Inflation, geopolitics key global economic hurdles

NEW DELHI: The world's immediate priority for this decade should be restoration of normalcy to stem rising inflation, Union finance minister Nirmala Sitharaman said on Wednesday, listing equitable solutions for climate change, prudent debt management, industry-led skilling of youth, and coexistence of big and small firms as other decadal challenges for the global community.

- Rajeev Jayaswal

Detailing her priorities for a healthy global economy, Sitharaman urged governments, policymakers, strategic leaders, citizen forums and the industry to act together in bringing normalcy globally, otherwise the decade would be "frittered away." Part of this, she suggested, would require the settlement of geopolitical disputes.

"No way can there be enough justifiable reason for skirmishes or war," she said. Both the Russia-Ukraine war and Israel's bombardment of Gaza have taken their toll on global trade and supply chains.