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The first meeting of the G20 Working Group on International Financial Architecture under the Indian G20 Presidency will be held on 30-31 January 2023 in Chandigarh.
The International Financial Architecture Working Group is one of the important lines of work under the G20 Finance Track and focuses on strengthening the international financial architecture. It also aims to address the multiple challenges faced by vulnerable countries.
Approximately 100 delegates from G20 Member States, Invited Countries and International Organizations will arrive in Chandigarh to participate in the two-day meeting.
The meeting will be opened by Minister of Agriculture and Farmer Welfare Narendra Singh Tomar and Minister of Food Industries Pashupati Kumar Paras. Discussions during the two-day meeting will be jointly led by the Ministry of Finance and the Reserve Bank of India along with France and Korea being the Co-Chairs of the International Financial Architecture Working Group.
The 1st meeting of the G20 Health Working Group begins
The meeting will discuss ways to improve the stability and cohesion of the international financial architecture and adapt it to face the global challenges of the 21st century. The meeting will also focus on exploring ways to provide maximum support to poor and vulnerable countries.
parallel meetings
On the sidelines of this meeting, on January 30, 2023, a G20 side event entitled “Central Bank Digital Currencies (CBDCs): Opportunities and Challenges” will take place. The event aims to share country experiences and develop a deeper understanding of the macroprudential implications of CBDCs.
In the lead up to this meeting, several “Jan-Bhagidari” events have been held in Chandigarh. A seminar on “Central Bank Digital Currencies: The Indian Story” was also held on 25th January 2023 in Chandigarh. These events aim to raise awareness of the Indian G20 Presidency in 2023 and its theme “Vasudhaiva Kutumbakam” or “One Land, One Family, One Future”.
The meeting will discuss ways to improve the international financial architecture to face the global challenges of the 21st century.
During the course of the Indian G20 Presidency, this Working Group will meet again in March, June and September to continue discussions on the established priorities.
Discussions at the International Financial Architecture Working Group meeting will continue to inform G20 Finance Ministers and Central Bank Governors (FMCBG) on key deliberations on related priorities under India’s G20 Finance Track. The first meeting of the G20 Finance Ministers and Central Bank Governors is scheduled for 24-25 February 2023 in Bengaluru.
