The G20 International Financial Architecture Working Group (IFAWG) has recently concluded its meeting in Chandigarh, India, with a focus on discussing the latest developments in the global financial architecture and the role of the G20 in promoting stability and growth in the global economy.
The meeting was attended by representatives from various G20 countries, including India, the United States, the United Kingdom, Germany, Japan, and China, among others. The participants discussed a range of issues related to the global financial architecture, including the ongoing challenges posed by the COVID-19 pandemic and the need for greater international cooperation and coordination in response to these challenges.
The participants also discussed the progress made in implementing the recommendations of the Financial Stability Board and the International Monetary Fund, and the role of the G20 in supporting the development of strong, sustainable, balanced, and inclusive growth in the global economy.
In addition to discussing the latest developments in the global financial architecture, the IFAWG meeting also served as an opportunity for the participants to exchange views on a range of other topics, including the impact of digitalization on the financial sector, the need for greater financial inclusion and access to finance, and the importance of promoting sustainable finance and investment.
The meeting concluded with a recognition of the need for continued international cooperation and collaboration in order to address the challenges facing the global financial architecture and promote stability and growth in the global economy. The participants expressed their commitment to working together to achieve these goals and agreed to continue their discussions at future IFAWG meetings.
The two-day summit will be attended by around 100 participants from G20 countries, invitee countries, and international organisations.
The conference will be inaugurated by Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar and Minister of Food Processing Industries Pashupati Kumar Paras.
The talks at the conference will be co-led by the finance ministry and the Reserve Bank of India, as well as France and Korea, who are co-chairs of the International Financial Architecture Working Group.