The 2nd G20 Finance and Central Bank Deputies (FCBD) Conference began today in Bengaluru, with an address by Union Minister for Information and Broadcasting, Shri Anurag Singh Thakur.
The first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Indian G20 Presidency is slated for February 24th and 25th, 2023, in Bengaluru, Karnataka. The G20 FMCBG meeting is preceded by the second G20 Finance and Central Bank Deputies (FCBD) meeting, which will be co-chaired by Shri Ajay Seth and Dr Michael D. Patra, Deputy Governor of the Reserve Bank of India.
The Minister stated during his speech that the Finance Track is at the heart of the G20 process and serves as an effective forum for global economic conversation and policy coordination. Global economic outlook and risks, international financial architecture, including development finance and the global financial safety net, financial inclusion and other financial sector issues, infrastructure development and financing, sustainable finance, global health financing, and international taxation are the main work streams in the Finance Track.
When India’s Prime Minister, Shri Narendra Modi, received the G20 Presidency baton from Indonesia’s President Joko Widodo in November 2022, it was a proud moment for the country as well as a great responsibility to ensure that the G20 continues to bridge differences and forge consensus on global issues.
Through focused debate and deliberation, the G20 can make a substantial contribution to finding realistic global solutions to these difficulties, and the Indian Presidency aims to actively encourage this, according to Shri Thakur.
Shri Thakur also stated that the G20 Finance Track discussions in 2023 will include, among other things, strengthening Multilateral Development Banks (MDBs) to meet the shared global challenges of the twenty-first century, financing “cities of tomorrow,” leveraging digital public infrastructure for financial inclusion and productivity gains, and advancing the international taxation agenda. The G20’s many workstreams have already begun work on these critical topics.
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