Meet on financial architecture from today

Tribune Information Service

Chandigarh, January 29

The primary two-day G20 Worldwide Monetary Structure Working Group assembly beneath India’s G20 Presidency can be inaugurated right here on Monday by Union Agriculture Minister Narendra Singh Tomar and Meals Processing Industries Minister Pashupati Kumar Paras.

The assembly will talk about methods to extend the soundness and cohesion of the worldwide monetary structure and the way to make it match to deal with the worldwide challenges of the twenty first century. It’ll additionally concentrate on exploring methods to offer most assist to poor and susceptible nations, Anu Mathai from the Union Finance Ministry informed the media on Sunday. This working group notably offers with the way to strengthen response on the occasions of disaster, she stated.

Working group mandate

• G20 delegates will talk about methods to extend stability and cohesion of worldwide monetary structure
• The working group will concentrate on exploring methods to offer most assist to poor and susceptible nations
• It’ll meet once more in March, June and Sept, earlier than putting suggestions for G20 Summit in New Delhi on Sept 9 and 10

The discussions in the course of the two-day assembly can be collectively steered by the Ministry of Finance and the Reserve Financial institution of India together with France and Korea who’re the co-chairs of the Worldwide Monetary Structure Working Group. The working group will meet once more thrice, in March, June and September, earlier than putting its suggestions for the G20 Summit in New Delhi on September 9 and 10.

Deliberations of the working group conclave will feed into the primary assembly of G20 Finance Ministers and Central Financial institution Governors on February 24 and 25 in Bengaluru.

The Worldwide Monetary Structure Working Group is a workstream beneath the G20 Finance Monitor with a concentrate on strengthening the worldwide monetary structure in addition to addressing a number of challenges confronted by susceptible nations.

Round 100 delegates G20 members, particularly invited nations and representatives of worldwide organisations are right here for the two-day assembly, stated an official assertion.

On its sidelines, a G20 facet occasion “Central Financial institution Digital Currencies (CBDCs): Alternatives and Challenges” can even be held on Monday.

Within the run-up to the assembly, a seminar on “Central Financial institution Digital Currencies: The Indian Story” was held on January 25 right here.

Replying to a query, she stated debt was a significant merchandise on the agenda of the Worldwide Monetary Structure Working Group.