Tatsat Chronicle Magazine

Finance Minister Nirmala Sitharaman meets with business leaders in the United States to discuss investment prospects and reforms in India

Nirmala Sitharaman

The 4th G20 Finance Ministers and Central Bank Governors Meeting 2021 is one of the ministerial meetings taking place in conjunction with the G20 Leaders Summit 2021, which will be held in Italy in October 2021

The finance ministers of the G20 (Group of 20) countries are scheduled to gather on Wednesday in Washington, DC, to address issues relating to the worldwide economy and global health, with a particular focus on efforts aimed at promoting more sustainable growth. As part of the biennial G20 finance ministers and central bank governors (FMCBGs) meeting, the ministers will be joined by central bank governors.

The G20 summit on Wednesday will be part of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), according to an official release. The ministers and governors reviewed international taxes and financial sector concerns at the third FMCBG conference, which took place in Venice three months ago (the first such in-person finance track meeting since February 2020 due to the Covid-19 epidemic).

The G20 ministers and central bank governors are expected to examine the Covid-19 global recovery, which has been aided by coronavirus vaccines, but with a particular attention on how recovery is still uneven across and even within countries, during the fourth FMCBG conference. According to the meeting’s agenda, the ministers and governors will discuss how to maintain the economic recovery while also dealing with the pandemic’s negative impacts, particularly for the most vulnerable members of society.

This is especially significant because the ministers and governors at the last FMCBG conference had a “very good exchange of views” on how to help the world’s most disadvantaged countries. The meeting is anticipated to explore strategies to channel a portion of the $650 billion in special drawing rights (SDRs) given by the IMF for this purpose to nations in need. “Exchange of ideas on the Common Framework for Debt Treatment will continue beyond the Debt Service Suspension Initiative (DSSI) and the replenishment of the International Development Association,” the G20 statement continued.

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