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G-20 Finance Ministers and Central Govenors Meeting held in Bali : India's emphasis on minimising negative spill over effects of global risks on emerging economies

Post by Admin Oct 12,2018

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Post by Admin Nov 30,-0001

G-20 Finance Ministers and Central Govenors Meeting held in Bali : India's emphasis on minimising negative spill over effects of global risks on emerging economies

Post by Admin,Oct 12,2018.
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The Final G-20 Finance Ministers and Central Bank Governors (FMCBG) Meeting under the 2018 Argentine Presidency a were held on 11th -12th October 2018 in Bali, Indonesia on the sidelines of the IMF/Fund Bank Annual Meetings. 

FMCBG Meeting

The deliberations in the G-20 FMCBG meeting centered on key risks facing the global economy, enhancing a resilient international financial architecture, financing infrastructure development, progress on compact with Africa as well as streamlining of the GPFI process. 

About G 20

  • It came in the aftermath of Asian financial crisis of 1999 and is a forum of governments and central bank governors from 20 major economies.
  • Its purpose is to study, review, and promote high-level discussion of policy issues pertaining to the promotion of international financial stability
  • Summit level meeting was initiated after financial crisis of 2008. Therefore since then 3 separate meetings are held head of state(Summit level), finance ministers meet, central bank governors meet.
  • G20 does not have a Secretariat, does not have any staff working for it, and it is basically a leader led forum.
  • The recommendations of G20 are advisory in nature.
  • It is up to the host country to set up the agenda. The common agenda in all these meeting ‘How to have transparent, better, and effective global economic governance and how to promote growth’.
  • The forum provides an opportunity for bilateral and multilateral meetings

    G 20 Countries

  • 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States.
  • And European Union which is represented by European Commission and the European Central Bank