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December 14, 2022
Finance & Central Bank Deputies Meeting under the G20 Presidency of India, Bengaluru (December 13-15, 2022)
Photo: Gateway of India, Mumbai, illuminated to welcome G20 delegates to Mumbai. Image provided by G20 India.
Photo: A view of the G20 Finance & Central Bank Deputies Meeting in Bangaluru, India, December 14, 2022. Image provided by G20 India.
Bengaluru, India, December 14, 2022 — The first G20 Finance and Central Bank Deputies (FCBD) meeting is taking place 13-15 December 2022 in Bengaluru. This meeting, which marks the start of discussions on the Finance Track agenda under the Indian G20 Presidency, is hosted jointly by the Ministry of Finance and the Reserve Bank of India.
The G20 Finance Track, led by Finance Ministers and Central Bank Governors of G20 countries, focuses on economic and financial issues. It provides an effective forum for global economic discourse and policy coordination. The First Finance Ministers and Central Bank Governors Meeting will be held during 23-25 February 2023 in Bengaluru.
Prime Minister Modi said in his address at the Bali G20 Summit that the need today is that the benefits of development are universal and all-inclusive. Ministry of Finance, India, has imbibed this idea in the G20 Finance Track agenda.
Mr. Ajay Seth, Secretary Department of Economic Affairs, and Dr. Michael D. Patra, Deputy Governor of the Reserve Bank of India, are co-chairing the G20 Finance and Central Bank Deputies meeting. Their counterparts from G20 member countries and several other countries and international organizations invited by India are participating in the two-day conference.
The G20 Finance Track discusses critical issues of relevance for the global economy, encompassing the global economic outlook, the international financial architecture, infrastructure development and financing, sustainable finance, global health, international taxation, and financial sector issues, including financial inclusion.
On the sidelines of the meeting, a panel discussion took place on ‘Strengthening Multilateral Development Banks to Address Shared Global Challenges of the 21st Century. In addition, a seminar on the ‘Role of Central Banks in Green Financing’ took place.
The Indian G20 Presidency’s theme of ‘One Earth, One Family, One Future’ will guide the G0 Finance Track discussions. Approximately 40 meetings of the Finance Track will take place in several locations in India, which include arrangements of G20 Finance Ministers and Central Bank Governors.
India has assumed the G20 Presidency at a time of multiple challenges, which include scarring from the COVID-19 pandemic, sharpened geopolitical tensions, rising food and energy security concerns, growing debt distress, inflationary pressures, and monetary tightening, among others. Hence, a vital role of the G20 is to guide in dealing with such challenges.
During India’s G20 Presidency, supporting the countries most in need and reflecting the concerns and aspirations of developing countries will be at the forefront of the G20’s efforts. The Ministry of Finance and the Reserve Bank of India will steer the G20 Finance Track agenda in an inclusive manner aimed at addressing the global economy needs of today as well as preparing for a better tomorrow.
Source: G20 India
|GlobalGiants.Com|
Edited & Posted by the Editor | 9:29 AM | Link to this Post
