The forthcoming G20 Summit in India will see the participation of USA President Joe Biden, who is set to visit the country from September 7 to 10. The event, hosted by India, will take place in New Delhi on September 9 and 10, as confirmed by White House National Security Adviser Jake Sullivan during a press briefing.
President Biden's Agenda at the G20 Summit
The primary emphasis of President Biden's presence at the G20 Summit will be on advocating for significant reforms within the International Monetary Fund (IMF) and the World Bank. Sullivan articulated the need for these institutions to present more viable alternatives for developmental support and financing, countering what he termed as China's "coercive and unsustainable lending practices."
Sullivan highlighted President Biden's intention to dedicate substantial efforts to the modernization of multilateral development banks, including the IMF and the World Bank. The objective behind this modernization push is to ensure that these institutions offer solutions of high standards and leverage, effectively addressing the developmental challenges faced by developing nations.
Proposed Enhancements to IMF and World Bank Lending Power
The United States is poised to present proposals in New Delhi aimed at bolstering the lending capabilities of both the World Bank and the IMF by around $200 billion. This proposed increase in lending power underscores the US commitment to fostering global economic cooperation and combatting issues such as poverty.
Multifaceted Discussions at the G20 Summit
The G20 Summit will serve as a platform for President Biden and his G20 counterparts to engage in comprehensive discussions on various global matters. These conversations will encompass topics ranging from clean energy transitions and climate change mitigation to addressing the economic and social ramifications of conflicts such as the situation in Ukraine.
Closure of Institutions and Preparations in Delhi
In preparation for the G20 Summit, private and government offices in Delhi will be closed from September 8 to 10. Additionally, banks, commercial establishments, and markets in the New Delhi district will remain shut during this period. The closure aims to facilitate the successful execution of the summit and minimize any potential disruptions.
Delhi's Coordination Efforts
Delhi's authorities are making significant arrangements to ensure the success of the G20 Summit. Special Commissioner of Police, Madhup Tiwari has recommended declaring public holidays from September 8 to 10, while also suggesting the closure of commercial establishments falling within the designated "controlled zone." These measures are aimed at mitigating traffic congestion and facilitating the movement of dignitaries during the summit.
The city is also undergoing preparations for the influx of foreign dignitaries, with important roads and hotels undergoing scrutiny. The engagement of newly-appointed civil servants in continuous monitoring underscores the seriousness of these preparations.
In Conclusion
President Biden's visit to India for the G20 Summit represents a critical juncture for global discussions on economic cooperation, sustainable development, and international cooperation. The reforms proposed by the US within the IMF and World Bank signal its commitment to addressing global challenges and promoting equitable development.
