G20 Finance Ministers and Central Bank Governors (FMCBG) will gather virtually, on Wednesday 7 April 2021, for the second G20 Finance Track Ministerial meeting under the Italian G20 Presidency.
At the first G20 FMCBG meeting in February 2021, Ministers and Governors acknowledged that health and economic conditions remained difficult, despite the launch of vaccination campaigns and the encouraging signs of economic recovery. They also committed to scaling up international coordination to tackle current global challenges by adopting a multilateral approach, focusing on a set of core priorities.
In between the two top level meetings, discussions on measures aimed at fostering the economic recovery and putting the global economy back on a path of growth continued at the technical level. The Framework, Infrastructure and International Financial Architecture Working Groups met respectively on 18, 22-23 and 24-25 of March. The Global Partnership for Financial Inclusion gathered on 24-25 March, while the Sustainable Finance Study Group, which has been relaunched at the initiative of the Italian G20 Presidency, also held its first meeting on 26 March.
From its establishment, the G20 Finance Track has been addressing global economic, fiscal and monetary issues. Since the COVID-19 outbreak, the G20 has been engaged in coping with the economic impact of the pandemic and fostering economic recovery.
On 7 April, G20 Ministers and Governors will continue their work, building up on a renewed multilateralism, leading the way on the most pressing issues on the global agenda. Indeed, they are expected to steer the international community by providing guidance on the shape of the policy response, especially on health-related initiatives, the support to the most vulnerable economies, the advancement on the international taxation agenda, the transition towards more sustainable economies and financial regulation.
Ministers and Governors will also discuss an update of the G20 Action Plan, the main policy tool to guide the global response through the COVID-19 crisis. The G20 Action Plan update will include a set of commitments aimed at supporting the policy response to the pandemic and steering the international economic coordination for a sustainable, balanced and inclusive recovery, while preparing the ground for the post-COVID-19 world.