Global debt crisis impacting nearly 95 countries: G20 Sherpa Amitabh Kant

New Delhi: The Russia-Ukraine war and the ongoing tensions in the Middle East pose a significant challenge for global stability and economics, said G20 Sherpa Amitabh Kant while speaking at an event in Delhi.

Kant added, "In the face of a global debt crisis impacting nearly 95 countries, urgent action is needed to pursue inclusive and sustainable growth strategies. As we navigate these challenges, our focus remains on achieving the Sustainable Development Goals (SDG) by 2030."

The G20 Sherpa was speaking at an event called 'Celebrating and Calibrating G20 - The Sherpa Speaks', it was organised by Society of Indian Law Firms (SILF) to honour the remarkable achievements of the G20 Sherpa Kant for his significant contributions in spearheading the success of the G20. He was also presented with the Award for Outstanding Achiever- India 2023.

India's Attorney General R Venkataramani also participated in the event and commended India's pivotal role in shaping the global Silk Route and its central position in the emergence of the G20 as a platform for diverse ideologies and legal fraternities. He also stressed the importance of seizing opportunities to contribute to shaping a more equitable global order.

"G20 signifies a departure from the hegemony of western powers, offering a platform for diverse ideologies and legal fraternities to shape the future. It is imperative for the legal fraternity to seize the opportunities and contribute to shaping a more equitable global order" he said.

He further added "Considering recent global history, G20 stands as a testament to history-making. Its significance transcends mere meetings of foreign finance ministers; it harkens back to pivotal moments such as the Bretton Woods conference of 1945, which saw the emergence of institutions like the IMF and World Bank."

It was also highlighted during the event that the success of G20 India stands as a testament to the nation's capacity for international cooperation and its determination to address pressing global issues.