Reserve Bank of India (RBI) governor Shaktikanta Das on Friday called upon G20 nations to address challenges such as debt distress and threats to financial stability faced by world economies. He said the global outlook has improved with many of the view a severe recession may not happen.
“There is now greater optimism that the world may avoid a deep recession and only experience slow growth or a softer recession. Yet uncertainties lie ahead of us,’’ he said while addressing the inaugural session of the meeting of G20 finance ministers and central bank governors in Bangalore.
Das said nations must jointly address the challenges that confront them in a resolute manner, including those that are medium to long-term in nature such as threats to financial stability, debt distress, climate finance, fractures in global trade, and strains on global value chains.
“We must promote greater global economic cooperation and position the global economy on a trajectory of strong sustainable balanced and inclusive growth,” he said.
