The G20 adopted the New Delhi Declaration unanimously on Saturday, calling for coordinated steps to support the world economy that faces an uncertain outlook, along with expeditious and effective redressal of the debt vulnerabilities of low and middle-income countries.
India Used Sherpa, Ministerial Tracks to reach Consensus
Indian officials worked round-the-clock behind the scenes in the past few months — and particularly the last week — through several channels, including the ministerial and Sherpa tracks, to reach a consensus on the Leaders’ Summit Declaration by narrowing differences on the Ukraine-Russia war.
Finance Track Makes Massive Strides
The G20 leaders Saturday agreed to regulate crypto assets, endorsed the need for better capitalised and more efficient multilateral development banks (MDBs) to address 21st century challenges, and pushed for a newer climate financing framework that wouldn’t tie its success to developed-world fund pledges.
