Finance and Central Bank officials to meet in Bengaluru under the banner of G20

Bangalore / New Delhi. Finance and Central Bank Officials (FCBD) will meet in Bengaluru from December 13 to 15 for the first time under the presidency of the G-20. This information was given in a basic statement on Sunday. This meeting is going to start discussions on a finance track agenda under the chairmanship of the Indian G-20, which is being coordinated by the Ministry of Finance and the Reserve Bank of India. Led by the finance ministers and central bank governors of the G-20 countries, the G-20 Finance Track will focus on issues related to finance and economics.

This meeting will prove to be an effective platform for global economic dialogue and policy coordination. This meeting, which is going to be held for the first time between Finance Ministers and Central Bank Governors, will be held in Bengaluru from 23 to 25 February 2023. Ajay Seth, Secretary, Department of Economic Affairs, and Dr. Michael D. Patra, Deputy Governor, Reserve Bank of India will also participate in the upcoming meeting along with officials from Finance and Central Banks.

Their counterparts from G-20 countries and other countries and international organizations have also been invited to this meeting from the Indian side. Topics of importance to the global economy will be discussed under the G-20 Finance track. Along with this, global economic outlook including financial inclusion, international financial architecture, infrastructure development and financing, sustainable finance, global health, international taxation and financial sector issues will be covered.

The agenda for the finance track will be the main focus of India’s G-20 presidency during the Bengaluru meeting, the statement said. This includes re-orienting international financial institutions to meet the shared global challenges of the 21st century, financing the cities of tomorrow, managing global debt vulnerabilities, advancing financial inclusion and productivity gains, climate action and the SDGs. financing, a globally coordinated approach to unsupported cryptocurrencies, and advancing the international taxation agenda.

A panel discussion on ‘Strengthening Multilateral Development Banks to Address the Common Global Challenges of the 21st Century’ will also be held on the sidelines of the meeting. A seminar will also be organized on the role of central banks in green financing.

The statement also said that the theme of the G20 under India’s chairmanship ‘One Earth One Family, One Future’ will set the go finance track discussions. About 40 meetings of the Finance Track will be held across India, including G20 Finance Ministers’ and Central Bank Governors’ meetings. Discussions in the G20 Finance Track will eventually be reflected in the G20 Leaders’ Declaration.

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