Bengaluru: “The global economy is facing the lingering effects of the COVID-19 pandemic, food and energy insecurity, broad-based inflation, heightened debt vulnerabilities, worsening climate change, and geopolitical tensions”. In such a scenario, G20 can make a significant contribution to find pragmatic global solutions to these challenges through focused dialogue and deliberations and the Indian Presidency seeks to actively facilitate this, said Information & Broadcasting Minister Shri Anurag Thakur while inaugurating the the second Finance and Central Bank Deputies Meeting, under India’s G20 Presidency which is underway in Bengaluru.
The global economy is facing the lingering effects of the COVID-19 pandemic, food and energy insecurity, broad-based inflation, heightened debt vulnerabilities, worsening climate change, and geopolitical tensions.
-Sh @ianuragthakur, #G20 FMCBG Bengaluru, Karnataka@g20org pic.twitter.com/X7Jou4zznB
— Office of Mr. Anurag Thakur (@Anurag_Office) February 22, 2023
He further stressed that The policymakers in the G20 Finance Track are responsible for ensuring that this trust is maintained. Since its inception, the G20 has time & again proven its mettle in forging consensus in times of crises.
Road to policy for crypto assets, a symposium of digital public infrastructure, and enhancement of cross-border payment arrangements are among the agenda for the meeting.
The First G20 Finance and Central Bank Deputies Meeting, under the Indian Presidency, too was held in Bengaluru during December 13-14, 2022.
The deputies meet will be followed by the first G20 Finance Ministers and Central Bank Governors meeting, scheduled to be held during February 24-25 in the same city. The meeting will be jointly chaired by Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das.
The meeting will be spread over three sessions, covering issues such as strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive, and sustainable ‘cities of tomorrow’, leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains, an official release said earlier.
The sessions will also cover issues related to the global economy, global health, and international taxation, and discussions in the G20 finance ministers and central bank governors meeting are intended to provide a clear mandate for the various work streams of the G20 Finance Track in 2023.
The Indian Presidency has designed the meeting agenda in a manner that can foster a meaningful exchange of ideas among Ministers and Governors on pragmatic and meaningful approaches to address some of the key global economic issues.
The meeting will be spread over three sessions on February 24th-25th, covering issues such as strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive and sustainable ‘cities of tomorrow’, leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains. The sessions will also cover issues related to global economy, global health, and international taxation.
The discussions in the G20 FMCBG meeting in the second round at Bengaluru are intended to provide a clear mandate for the various workstreams of the G20 Finance Track in 2023.
On the sidelines of these meetings, a number of side events have been planned for the visiting Ministers, Governors, Deputies and other delegates, on subjects such as Digital Public Infrastructure, Policy Perspectives on Crypto Assets and the role of National Payment Systems in Cross Border Payments.
A Ratri Bhoj Par Samvad and specially curated cultural programmes will also be organised for the Finance Ministers, Central Bank Governors and their delegations which will showcase India’s diverse cuisines and culture.
A special event titled Walk the Talk: Policy in Action is also being organised, during which the Ministers and Governors will visit the Indian Institute of Science (IIS) to engage with tech-innovators and entrepreneurs who are working on affordable and scalable solutions to some of the challenges being faced by G20 member countries.
For the welcome of ministers, governor, deputies and delegates, Shri Seth said that cultural programmes showcasing India’s rich cultural odyssey across Karnataka — a land renowned for its deep rooted cultural and artistic heritage with diverse form of arts and crafts are being organised. The performance would reflect the artistry and splendour of Karnataka’s cultural ethos and legacy.
(with inputs from ANI & PIB)
