A delegation from the Ministry of the Economy and Finance (MEF), made up of representatives from the Treasury and External Finance Department, took part in the work of the 3rd Meeting of Finance and Central Bank Deputies and the 3rd Meeting of Finance Ministers and Central Bank Governors, held respectively on July 14 and 15, 2023 and July 17 and 18, 2023 in Gandhinagar, Gujarat, India as part of the G20 (Finance Track).
The various sessions organized as part of these meetings provided an opportunity to exchange views on the main issues concerning the global economy, reform of the international financial architecture, international taxation, sustainable finance and financial inclusion.
As part of these meetings, the MEF representative delivered a speech on behalf of the Minister of the Economy and Finance, in which he stressed the importance of the G20 platform in resolving the pressing and existential economic challenges facing the world's nations as they enter an era of successive crises and multiple shocks, to which the countries of the South are most exposed.
While emphasizing the important role of the Multilateral Development Banks (MDBs) in promoting inclusive growth and economic stability, the MEF representative said that MDB reform should be comprehensive to ensure the transition to a more integrated, prosperous and sustainable world economic order, and provide more appropriate responses to the latest crises and the prospects of developing countries.
The MEF representative also pointed out that the forthcoming Annual Meetings of the World Bank Group and the IMF, scheduled to take place in Marrakech next October, represent a new opportunity to focus collectively and more closely on strengthening global financial cooperation, exploring innovative solutions and mobilizing resources for sustainable development and shared prosperity in a rapidly changing world.