Important to De-Risk Global Economy in Era of Volatility and Uncertainty: S Jaishankar
19th May 2023: In a recent address, S Jaishankar, the External Affairs Minister of India, highlighted the crucial need to de-risk the global economy in the face of growing volatility and uncertainty.
Speaking at an international economic forum, Jaishankar underlined the importance of proactive measures to safeguard global financial stability.
Jaishankar acknowledged that the world is witnessing an era marked by increased unpredictability and rapid changes.
Geopolitical tensions, technological disruptions, climate change, and the ongoing pandemic have significantly impacted global economic dynamics, necessitating a reevaluation of risk management strategies.
The minister emphasized that countries must work together to identify and address potential vulnerabilities in the global economic system.
Jaishankar stressed the importance of robust risk assessment mechanisms that consider both short-term shocks and long-term structural challenges.
He called for a holistic approach, incorporating measures to manage financial risks, enhance regulatory frameworks, and promote economic resilience.
Furthermore, Jaishankar underscored the significance of international cooperation and multilateralism in effectively de-risking the global economy.
He urged nations to foster partnerships, share best practices, and develop common frameworks to mitigate risks and strengthen economic stability.
Highlighting India’s commitment to contributing to global economic resilience, Jaishankar outlined the country’s ongoing efforts to strengthen its own financial systems and regulatory frameworks.
He emphasized India’s role as a responsible global player and its willingness to collaborate with other nations to promote sustainable economic growth.
The minister concluded by calling for proactive action from governments, international organizations, and financial institutions to prioritize risk mitigation strategies.
By adopting a forward-looking approach and actively managing risks, the global community can navigate through uncertain times and foster a stable and inclusive global economy.
In conclusion, S Jaishankar’s address emphasized the importance of de-risking the global economy in the face of volatility and uncertainty.
His call for international cooperation and proactive risk management strategies highlights the need for collective efforts to safeguard financial stability and promote sustainable growth in the current global landscape.
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