Indonesia’s G20 agenda is still ongoing. This time, the third meeting of the Ministers of Finance and Central Bank Governors’ Meeting (FMCBG) of the G20 Indonesia took place today, Friday (15/7/2022). The Ukrainian delegation was confirmed to be present.
The meeting was attended by as many as 407 foreign delegates physically in Bali and 120 delegates attended virtually. In addition, 17 Finance Ministers and 11 Central Bank Governors will be physically present. The Minister of Finance of Ukraine was present virtually.
Minister of Finance Sri Mulyani Indrawati said that the physical presence of the majority of the delegations from the G20 countries, invited countries, and international organizations demonstrates the global seriousness and commitment to supporting Indonesia’s G20 Presidency and encouraging sustainable economic recovery in the midst of increasing global challenges.
“The G20 needs to go further, by taking concrete actions based on the spirit of cooperation, collaboration, and consensus, to overcome global challenges,” he said, Friday (15/7/2022).
Meanwhile, at the meeting, the delegates will discuss seven main agendas. First, the global economy and its risks will discuss the latest global economic conditions and appropriate policy responses in achieving a strong, sustainable, balanced, and inclusive global economic recovery.
Appropriate policy responses are needed to face challenges, especially with increasing inflationary pressures, disruption of global supply chains, imbalances in demand and supply from the supply side, rising commodity and energy prices due to the Covid-19 pandemic, and the war in Ukraine.
Second, global health issues. This agenda will discuss efforts to revitalize the global health architecture so that it can support preparedness, prevention, and response to future pandemics.
Third, international financial architecture is an effort to encourage improvement in debt management for poor countries and to encourage the long-term strengthening of global financial resilience.
Fourth, issues in the financial sector, which will discuss policy normalization strategies and mitigating the long-term impact of the pandemic (scarring effect) in the financial sector as well as efforts to strengthen the global financial sector through risk management and optimization of technology and digitalization, as well as cross-border payment system arrangements.
Fifth is sustainable finance. G20 countries encourage the development of a financial transition framework and increase the credibility of financial institutions’ commitments to a green economy transition, improve sustainable finance by increasing access and affordability of green instruments,
Sixth, sustainable, inclusive, accessible, and affordable infrastructure development.
Seventh, international taxation. The Ministers of Finance and Central Bank Governors of G20 countries will continue to push the agenda by ensuring the implementation of the global agreement in 2021 in the form of the two pillars of the G20/OECD.
 of the G20 Indonesia took place today, Friday (15/7/2022). The Ukrainian delegation was confirmed to be present.){kind=link}