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International Monetary Fund (IMF) Managing Director Kristalina Georgieva congratulated Prime Minister Narendra Modi on the success of Chandrayaan-3 and praised India for achieving this feat with a budget “less than the movie Interstellar”.
During various sessions and meetings of the G-20, many world leaders praised India for the moon mission and also the successful launch of Aditya L1, India’s first space-based mission to study the Sun.
Sources said British Prime Minister Rishi Sunak congratulated India and the world on Chandrayaan-3, while South African President Cyril Ramaphosa praised the country for this achievement and recalled that he had taken a break during the BRICS meeting. Saw the broadcast of the moon landing.
Georgieva said: ‘I congratulate you on landing on the moon. But as an economist, I congratulate you for doing it on a lower budget than the movie “Interstellar”. Bravo!’ A source quoted IMF managing director Georgieva as saying this at a meeting of the G-20.
India’s spacecraft landed on the Moon’s South Pole at 6:04 PM on August 23 after a successful journey of 41 days. The Chandrayaan-3 mission, which costs Rs 600 crore, was launched on July 14 using the Launch Vehicle Mark-3 (LVM-3) rocket. “Interstellar” is a 2014 science fiction film written and directed by Christopher Nolan, which was made at a cost of around Rs 1,400 crore.
During the G-20 summit, Singapore Prime Minister Lee Hsien Loong said: “Congratulations also on the moon mission and the Aditya L1 mission.” Meanwhile, Mauritius Prime Minister Pravind Kumar Jugnauth also congratulated India on the success of the Chandrayaan and Aditya L1 missions, saying it demonstrates India’s technological prowess and is an inspiration for “future travel”.
Italian Prime Minister Giorgia Meloni, Netherlands Prime Minister Mark Rutte and the Presidents of the Union of the Comoros and the African Union Azali Assoumani also praised India for the success of Chandrayaan-20 during the G-20 sessions. “We also congratulate India on the successful landing on the moon on August 23, 2023,” the group said in the G-20 New Delhi declaration adopted on Saturday.
“Major reforms needed to quickly recover from the global economic downturn”
Georgieva said the pace of recovery from the post-Covid-19 downturn in the global economy is slow and uneven, and to accelerate it, major growth-oriented reforms and better economic policies are needed. The IMF chief also pointed to the need to strengthen multilateral development banks (MBDs).
Speaking on the second day of the G-20 summit, he said G-20 member states should lead by example in meeting their pledge of $100 billion a year in MBD-backed climate finance. He also said the IMF has mobilized nearly US$40 billion to support vulnerable countries through the Adaptation and Stability Trust (RST) for climate adaptation.
He also expressed the need to make efforts in different countries to mobilize resources at their own level to reduce the effects of climate change. He said countries must also mobilize domestic resources to finance and manage green measures through tax reforms, effective and efficient public spending, strong financial institutions and deep local debt markets. He said the global economy, which has slowed after the Covid-19 pandemic, is not improving quickly. Against this background, concrete policies for structural reforms should be adopted.
A lot of work was done at MBD
Highlighting MDB-backed financing, Georgieva said that given the current global economic conditions, it is urgent to reach an agreement before the end of the year to increase the IMF’s quota resources and secure the necessary resources for interest-free aid to countries in need. -is important. Meanwhile, a government official said a lot of work has been done on MBD during India’s G-20 chairmanship.
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