State Minister of Finance Shehan Semasinghe represented Sri Lanka at the G24 Ministerial Meeting during the Annual Meetings of the International Monetary Fund (IMF) and the World Bank on Tuesday (Oct. 11).
The meeting has discussed a variety of new fiscal and economic issues that emerged since the outbreak of the Covid-19 pandemic, along with renewed risks and financing burdens on many developing countries, the Ministry of Finance, Economic Stabilization & National Policies said in a statement.
At a time when Sri Lanka, together with many other developing nations, are facing multiple crises including high food inflation, debt problems and balance of payments issues, it is important to work together with the international community to raise the common voice of developing nations and secure necessary assistance from global financial institutions, the statement read further.
The Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G24) coordinates the position of developing countries on monetary and development issues in the deliberations and decisions of the IMF and the World Bank.
