Page 43 - NIS English 01-15 May,2023

G-20 Nation

SECOND MEETING OF FINANCE MINISTER AND CENTRAL BANK GOVERNORS

G-20 can complement global efforts in tax transparency
The second meeting of G-20 Finance Ministers contribute to building a common understanding
and Central Bank Governors took place in of fostering an environment conducive to global
Washington DC from 12 to 13 April on the economic recovery. Strengthening multilateral
sidelines of the 2023 meeting of the International coordination toward addressing the growing
Monetary Fund and the World Bank Group. debt crisis in economically vulnerable countries
India's Finance Minister Nirmala Sitharaman and was also discussed.
Reserve Bank of India Governor Shaktikanta Das The members also deliberated on the
jointly chaired the meeting which was attended macroeconomic and financial challenges posed
by over 350 delegates. The progress of this by the crypto-assets ecosystem. Exchanged
meeting will be taken up in the 3rd meeting of views on possible global policy responses to
FMCBG to be held in Gandhi Nagar in July 2023. crypto-assets, especially taking into account
The three-session meeting discussed the risks to emerging markets and developing
the global economy, international financial economies.
architecture, sustainable finance, financial The third session on international taxation
sector, financial inclusion, and international discussed coordinated efforts toward effective
taxation. During the meeting, members discussed implementation and wider adoption of the
key challenges to the global economic outlook, international tax package. In addition, the
including the war in Ukraine, food and energy ministers offered suggestions on how the G20
insecurity, climate change, and recent risks to can complement global efforts to increase tax
financial stability. They agreed that the G20 can transparency.

meetings in which the Leaders' Statement will be on the agenda
drafted. These will form the basis of the leaders'
declarations to be adopted at the summit to be held The second meeting of the Development Working
in New Delhi on 9-10 September. Group was held in Kumarakom, Kerala from 6-9
April in which more than 80 delegates participated.
Second meeting of the Development The meeting was chaired by India’s DWG Co-Chairs
Working Group – Ministry of External Affairs’ Joint Secretaries ,
Nagaraj K. Naidu and Eenam Gambhir. India tried
India insisted on building consensus
to build a consensus on a range of issues, including

New India Samachar May 1-15, 2023 41