New Delhi, 22 Feb. Meetings of G20 finance and central bank delegates kicked off in the Indian city of Bangalore on Wednesday, with India ready to step up collective efforts to tackle economic vulnerabilities and geopolitical tensions.
“The G20 financial discussions will include strengthening bilateral development banks to face the shared global challenges of the 21st century, financing the cities of tomorrow and advancing the international fiscal agenda, among others,” he said. it declared at the opening of the working session. Minister of Information and Telecommunications, Anurag Thakur.
Today’s meetings are the second meeting of the group’s finance representatives, before culminating on Friday and Saturday, when the main sessions of finance ministers and central bank governors are held, also in the city southern Bangalore.
Over the next few days, the top twenty developed and emerging economies will review the mechanics of “collaborative efforts to address global challenges, (as) the global economy grapples with the effects of the pandemic, food insecurity and energy, inflation, vulnerabilities and geopolitical tensions,” said Thakur, referring to the objectives of India’s G20 presidency.
India took over the G20 presidency last December, taking over from Indonesia, and aims to host more than 200 G20 meetings throughout the year.
The Asian country expects to receive various ministers and government officials in the coming days, including US Treasury Secretary Janet Yellen; the vice-president of the Spanish government, Nadia Calviño; French Finance Minister Bruno Le Maire; or the Argentine Minister of Economy, Sergio Massa.
The theme chosen by India for its presidency was “Vasudhaiva Kutumbakam” or “One Land, One Family, One Future”, with ideas based on the pacifist messages of Buddha and the Indian independence leader “mahatma” (great soul) Gandhi , in the current moment of immense global instability.
The highlight will be the Summit of Heads of State and Government, which is due to take place on September 9-10 in New Delhi. ECE
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