Press Release No. 18/87

Statement by IMF Deputy Managing Director Tao Zhang on Meeting with India’s Minister of Finance Arun Jaitley

March 14, 2018

Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), met today with India’s Minister of Finance Arun Jaitley in New Delhi. Following the meeting, Mr. Zhang made the following statement:

“It is my pleasure to visit India for the first time as Deputy Managing Director of the IMF. I would like to thank Minister of Finance Jaitley, his team and members of Indian society whom I have met for their warm welcome and hospitality.

“Minister Jaitley and I discussed economic policies, recent developments, and the outlook for the country. India has become one of the engines of global growth. Thanks to important gains in strengthening macroeconomic policies, structural reforms, and the hard work of the Indian population, many millions of Indians have been lifted out of poverty in the past two decades.

“In our discussion we touched upon the importance of increasing revenue mobilization, including through the recently introduced goods and services tax (GST), which is key to financing infrastructure and social spending.

“I also acknowledged India’s support for capacity building in the region, as a key contributor to the IMF’s South-Asia Regional Training and Technical Assistance Center (SARTTAC) in New Delhi. Capacity development and sharing knowledge with countries, helps build effective policies and strong institutions.”