PM Modi Urges G20 To Focus On Unsustainable Debt, Vulnerable Citizens

Trust in international financial institutions has eroded, partly because the lenders had been slow to reform themselves, PM Modi said.

The financial viability of many countries is being threatened by unsustainable debt, Prime Minister Narendra Modi said on Friday, as he called for the Group of 20 (G20) to focus on the world's most vulnerable citizens.

Trust in international financial institutions has eroded, partly because the lenders had been slow to reform themselves, PM Modi said in a video message at the beginning of a two-day meeting of G20 finance ministers and central bank governors.

"Food and energy security have become major concerns across the world. Even the financial viability of many countries is threatened by unsustainable debt levels," PM Modi said.

The meeting at a hill resort on the outskirts of Bengaluru is the first major event of India's G20 presidency and coincided with the first anniversary of Russia's invasion of Ukraine, which PM Modi alluded to.