G20 Development Working Group

About DWG:

• The Development Working Group meetings aims to discuss developmental issues in Developing Countries, Least Developed Countries and Island Countries.
• Its a platform for G-20 member countries to come together and prioritize multilateralism, share solutions that promote growth, remap development plans and achieve the Sustainable Development Goal’s targets.
• In these meetings, sessions on Data For Development, Role of G-20 in Advancing the 2030 Agenda, Infusing New LiFE into Green Development and Accelerating Progress on the Sustainable Development Goals are organised.

G20 Finance and Central Bank Deputies (FCBD) meeting:

• The first G20 Finance and Central Bank Deputies (FCBD) meeting will begin on December 12, 2022 in Bengaluru.
• This meeting, which will mark the start of discussions on the Finance Track agenda under the Indian G20 Presidency, will be hosted jointly by the Ministry of Finance and the Reserve Bank of India.
• The discussions during the 3-day meeting will focus on the agenda for the Finance Track under the Indian G20 Presidency.
• This includes reorienting international financial institutions to meet the shared global challenges of the 21st century, financing cities of tomorrow, managing global debt vulnerabilities, advancing financial inclusion and productivity gains, financing for climate action and SDGs.

Q1) What are the key issues dealt by the G20 Finance track?

Some of the key issues dealt by the Finance Track are global economic outlook and monitoring of global economic risks; reforms for a more stable and resilient global financial architecture; international taxation; financing quality infrastructure; sustainable finance; financial inclusion; financial sector reforms and financing for future health emergencies and investments in pandemic prevention, preparedness and response.

Source: All India Radio