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March 27, 2023 5:55 am

Meet on financial architecture from today

Chandigarh, January 30

The first two-day G20 International Financial Architecture Working Group meeting under India’s G20 Presidency will be inaugurated here on Monday by Union Agriculture Minister Narendra Singh Tomar and Food Processing Industries Minister Pashupati Kumar Paras.

The meeting will discuss ways to increase the stability and cohesion of the international financial architecture and how to make it fit to address the global challenges of the 21st century. It will also focus on exploring ways to provide maximum support to poor and vulnerable countries, Anu Mathai from the Union Finance Ministry told the media on Sunday. This working group particularly deals with how to strengthen response at the times of crisis, she said.

The discussions during the two-day meeting will be jointly steered by the Ministry of Finance and the Reserve Bank of India along with France and Korea who are the co-chairs of the International Financial Architecture Working Group. The working group will meet again thrice, in March, June and September, before placing its recommendations for the G20 Summit in New Delhi on September 9 and 10.

Deliberations of the working group conclave will feed into the first meeting of G20 Finance Ministers and Central Bank Governors on February 24 and 25 in Bengaluru.

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