Senior government officials and deputy governors of central banks of the G20 nations will meet in Bengaluru from Tuesday to Thursday to discuss ways to manage global debt vulnerabilities and financing for climate actions as well as for achieving sustainable development goals.
The meeting will be hosted by Ajay Seth, Secretary at the Department of Economic Affairs in the Ministry of Finance of the Government of India, and Michael D Patra, Deputy Governor of the Reserve Bank of India. Their counterparts from other G20 member countries as well as from several other countries will attend the meeting. The representatives of international organisations will also participate in the two-day meeting.
This is going to be the first meeting of the Finance Track of the G20 after India took over the presidency of the premier forum for international economic and financial cooperation on December 1.
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They will hold a discussion on reorienting international financial institutions to meet the shared global challenges of the 21st century, financing the cities of tomorrow and advancing financial inclusion and productivity gains. A globally coordinated approach to unbacked crypto assets is also on the agenda, the Ministry of Finance of the Government of India stated in New Delhi.
The first G20 meeting in Bengaluru will seek to advance the international taxation agenda.
A panel discussion on ‘Strengthening Multilateral Development Banks to Address Shared Global Challenges of the 21st Century’ will be held on the sideline of the meeting in Bengaluru. A seminar on the ‘Role of Central Banks in Green Financing’ will also be held.
The Indian G20 Presidency’s theme of ‘One Earth One Family, One Future’ will guide the consultations in the Finance Track. Nearly 40 meetings of the Finance Track will be held in several locations in India, which include meetings of G20 Finance Ministers and Central Bank Governors. The discussions in the G20 Finance Track will ultimately be reflected in the G20 Leaders’ Declaration, which will be adopted at the 18th summit of the bloc to be hosted by Prime Minister Narendra Modi in New Delhi on September 9 and 10.
The first meeting of the Sherpa Track of India’s G20 presidency took place at Udaipur in Rajasthan from December 4 to 7. New Delhi’s G20 Sherpa, Amitabh Kant, hosted his counterparts from the other member nations of the bloc as well as representatives of the multilateral organizations for the meeting.
