BENGALURU: The first G20 Finance and Central Bank Deputies meeting held in Bengaluru saw broad support on the proposed priorities of India’s G20 Finance Track agenda for 2023, said Ajay Seth, secretary, Department of Economic Affairs.
The discussions on Wednesday focused on issues relating to the global economy and risks, strengthening Multilateral Development Banks, managing global debt vulnerabilities, financing climate action and Sustainable Development Goals (SDGs) and building resilient, inclusive and sustainable cities, he said.
These discussions will pave the way for the first G20 Finance Ministers and Central Bank Governors meeting, which will be held from February 23 to 25 next year in Bengaluru.
Seth told reporters that the event demonstrates global commitment to support India’s G20 presidency, particularly amid a challenging global economic environment. He said the event reflected the theme of ‘Vasudhaiva Kutumbakam -- One Earth, One Family, One Future’.
Seth said they discussed global economic challenges, including inflation, food and energy insecurity and macroeconomic implications of climate change. They also discussed international financial architecture and cryptocurrency. Stressing on infrastructure, he said they discussed India’s priorities for the Infrastructure Working Group 2023, including ‘Financing Cities of Tomorrow: Inclusive, Resilient and Sustainable’.
Speaking on sustainable finance issues, Seth said they exchanged views on financing SDGs, including climate action, to facilitate development of a sustainable and resilient global economy.