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New Delhi [India]Dec 11 (ANI): The first G20 Fiscal and Central Bank Delegates (FCBD) meeting is scheduled to be held in Bengaluru on Dec 13-15 to kick off discussions on India’s G20 presidency, the Union Finance Ministry said. Financial track agenda Sunday.
The meeting, which will be jointly hosted by the Ministry of Finance and the Reserve Bank of India, provides an effective forum for global economic dialogue and policy coordination.
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The G20 Finance Track, led by finance ministers and central bank governors from G20 countries, focuses on economic and financial issues, the finance ministry said in a statement. In the coming months, the first meeting of finance ministers and central bank governors will be held in Bengaluru from February 23-25, 2023.
Addressing the G20 summit in Bali, Prime Minister Narendra Modi said what is needed today is that the benefits of development be universal and inclusive.
The Ministry of Finance has put this idea on the agenda of the G20 Finance Track. He also provided us with a vision that India will work to ensure that the G20 becomes a global ‘master mover’, bringing forth new ideas and accelerating collective action over the coming year.
The upcoming G20 meeting of financial and central bank representatives will be co-chaired by Economic Affairs Minister Ajay Seth and Reserve Bank of India Deputy Governor Michael Patra. The two-day meeting will be attended by counterparts from G20 member countries as well as several other countries and international organizations invited by India.
The G20 finance track discusses key issues relevant to the global economy, including the global economic outlook, international financial architecture, infrastructure development and financing, sustainable finance, global health, international taxation and financial sector issues, including financial inclusion, the Treasury said.
At the Bangalore meeting, discussions will focus on the financial track agenda under India’s G20 presidency.
This includes repositioning international financial institutions to address shared global challenges of the 21st century, financing tomorrow’s cities, managing global debt vulnerabilities, advancing financial inclusion and productivity, financing climate action and the Sustainable Development Goals, targeting unsecured A globally harmonized approach to cryptoassets and advancing the international tax agenda.
During the meeting, a panel discussion will be held on “Strengthening Multilateral Development Banks to Address Common Global Challenges in the 21st Century”. There will also be a workshop on the “Role of Central Banks in Green Financing”.
The theme of “One Planet One Family, One Future” under India’s G20 presidency will guide discussions on the G0 Financial Track.
Some 40 finance track meetings will be held at several locations in India, including G20 finance ministers and central bank governors meetings. Discussions on the G20 financial track will eventually be reflected in the G20 leaders’ declaration.
India’s G20 presidency comes at a time of multiple challenges, including scars from the COVID-19 pandemic, rising geopolitical tensions, heightened food and energy security concerns, heightened debt stress, inflationary pressures and monetary tightening, among others.
The Finance Ministry and RBI will inclusively guide the G20 Financial Track Agenda, aimed at addressing the needs of the global economy today and preparing for a better tomorrow. (Arnie)
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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