Sitharaman, RBI Governor to co-chair G20 FMCBG meet in Gandhinagar

GANDHINAGAR: Union Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI) Governor Shaktikanta Das will jointly chair a meeting of the G20 Finance Ministers and Central Bank Governors (FMCBG) on July 17-18 here, an official has said.

These discussions are being held under India's presidency of the G20 which comprises 19 countries and the European Union.

The key gathering will witness the participation of 66 delegations from around the world, focusing on issues related to the global economy and international financial architecture.

The third G20 Finance Ministers and Central Bank Governors (FMCBGs) meeting will mark the culmination of the work carried out under various work streams based on the mandate received during the first FMCBG conclave held in Bengaluru in February.

Ajay Seth, Secretary of the Department of Economic Affairs, Ministry of Finance, highlighted the significance of this meeting and its objectives.

A total of 520 participants across 66 delegations are expected to attend the meeting.

The event will be organised in five thematic sessions, covering crucial topics such as the global economy and health, sustainable finance and infrastructure, international financial architecture, international taxation, and the financial sector's inclusion.

The key deliverables to be presented at the meeting include the volume 1 report of the G20 Independent Expert Group on Strengthening MDBs (multilateral development banks), progress in the debt treatment for countries under the Common Framework, and a guidance note for developing a globally coordinated framework for the regulation and supervision of crypto-assets.

Additionally, workshops on various topics and a cultural programme showcasing India's diverse cuisines and rich culture will be organised.