Global economic leaders meet in Buenos Aires at the G20
The First Meeting of Finance Ministers and Central Bank Governors of the Argentine G20 presidency begins on tomorrow [in fact today March 20 and yesterday, March 19]
Source: G20 Argentina
Following the WTO Conference held in Buenos Aires on December last,
Argentina now hosts this global economic leaders
meeting. Which is something I feel you ought to
know is happening in the south of South America.
Mauricio López Dardaine
Infrastructure financing, the future of work, and the technology behind cryptocurrencies will be on the agenda for G20 financial leaders at the First G20 Meeting of Finance Ministers and Central Bank Governors of 2018, on 19-20 March, at the Buenos Aires Exhibition & Convention Centre (CEC).
22 finance ministers, 17 central bank governors and 10 leaders of international organizations will discuss key issues affecting the global economy, such as international financial architecture, the international tax system and financial regulation – all long-standing issues on the G20 agenda – as well as Argentina’s chosen priorities for the 2018 agenda, which include the future of work and infrastructure for development.
New technologies are changing the traditional structures of work and the G20 has the opportunity to help generate more inclusive growth if it takes advantage of these new trends so that their benefits multiply. Finance ministers and central bank governors will seek to pin down the impact that technological change is having on development, growth, jobs, and inequality.
Infrastructure increases productivity and creates more sustainable long-term growth. It also generates both physical and digital access to the opportunities of the new economy. Mobilizing private investment toward infrastructure is crucial to reducing the global infrastructure gap. The Argentine G20 presidency therefore proposes developing infrastructure as a new asset class that is attractive to investors.
Cryptocurrencies are also on the discussion table. While they have the potential to promote financial inclusion, they can also have implications on financial stability, tax evasion and the financing of illicit activities. The issue is an important item on the agenda; delegates will consider a joint response that would mitigate the risks without discouraging innovation.
At the end of the closed-door meeting, an official communiqué will be produced summarizing the meeting’s main conclusions and the issues on the discussion table at the next meetings.
The G20 finance deputies met yesterday and today, prior to the finance ministerial. In G20 terminology, the deputies are second in command to the ministers or central bank governors and help coordinate the G20 agenda.
This is the first ministerial meeting of the Argentine G20 presidency, and a key event on the G20 agenda. It will be the first of five meetings between finance ministers and central bank governors this year.
About the G20
The G20 started out in 1999 as a meeting of finance ministers and central bank governors. In 2008, amidst the global financial crisis, it evolved into what it is today: a major forum that seeks to develop global policies to address the world’s most pressing issues. The G20 summits are attended by the heads of state and government of 19 of the world’s leading economies and the EU. Together, the G20 members represent 85% of global GDP, two-thirds of the world’s population, and 75% of international trade.
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