Introduction sectionG20 Italy: Finance Ministers and Central Bank Governors first meeting

G20 Italy: Finance Ministers and Central Bank Governors first meeting

G20 Finance Ministers and Central Bank Governors (FMCBG) met on Friday 26 February 2021, for the first G20 Finance Track ministerial meeting under the Italian G20 Presidency. The event was held in virtual mode.

 

Under the Finance Track, the G20 addresses global economic, fiscal and monetary issues. Since the Covid-19 outbreak, the Finance Track has been engaged in coping with the economic impact of the pandemic and fostering a strong, sustainable and inclusive economic recovery.

 

G20 Finance Ministers and Central Bank Governors discussed the work programme and the 2021 priorities, which are structured around the 3Ps framework of the Italian G20 Presidency: People, Planet and Prosperity.

 

The challenges posed by the Covid-19 crisis require an enhanced global coordination on economic and fiscal measures. Ministers and Governors discussed the need to foster a rapid and transformative recovery from the Covid-19 crisis, and solutions to bringing the global economy back on the path of growth. The meeting was also an opportunity to assess the advancements made by the working groups and to exchange views on health, climate, support to the most vulnerable countries and international taxation related issues. The debate touched also upon financial sector issues such as financial regulation, financial inclusion and sustainable finance.

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