2023-08-26 12:34:11
Indian Prime Minister Narendra Modi (left) secretly criticized China for taking advantage of others’ dangers and creating debt traps (schematic diagram, Archyde.com)
[Central News Agency]Indian Prime Minister Narendra Modi recently accepted an exclusive interview with an Indian magazine, saying that fiscal issues are the focus of India’s rotating presidency of the Group of 20 (G20), and implicitly criticized certain countries for taking advantage of other countries’ dangers to create debt traps.
India currently holds the rotating presidency of the G20. The G20 Leaders Summit will be held in New Delhi from September 9th to 10th. US President Joe Biden, Russian President Vladimir Putin, and Chinese President Xi Jinping are all expected to attend .
“Business Today” (Business Today) magazine interviewed Modi (Narendra Modi) on the preparations and discussions of the G20 summit. The report was published today.
Modi stressed the importance of fiscal self-discipline, saying that certain countries took advantage of other countries’ debt crises to push them into debt traps and profit from them.
He said: “Every country has an obligation to look following its own finances, but at the same time there are some forces that will catalyze the debt crisis and seek improper benefits from it. These countries drag other countries into a debt trap when they are helpless.”
Modi did not name any countries but was generally seen as bashing China.
He pointed out that the G20 will start to deal with the debt vulnerabilities of low- and middle-income countries in 2021. Many countries are under heavy pressure to repay their debts. The performance of these countries will affect the progress of the United Nations’ 2030 Sustainable Development Goals.
On the other hand, Modi also pointed out that under the rotating chairmanship of India, the G20 has made significant progress in debt restructuring through the “Common Framework for Debt Handling”.
Modi said that before India assumed the presidency, only the central African country Chad had undertaken debt restructuring through this framework, but with India’s efforts, Zambia, Ethiopia and Ghana are now making progress in this regard.
He added that in addition to the “common framework for debt management”, the G20 has also coordinated Sri Lanka’s debt restructuring through a committee co-chaired by India, Japan and France.
Take the pulse of the economy with one hand
Click me to subscribe to Free Finance Youtube Channel
No need to smoke, no rush, now use the APP to watch the news and guarantee winning every dayClick me to download APP
According to how I see activities
1693196912
#Modi #secretly #criticizes #China #creating #debt #trapFree #Finance #Economics
