The Finance and Central Bank Deputies meeting begins in Gandhinagar!

Chennai-15.07.2023: Under India’s G20 Presidency, the Finance and Central Bank Deputies (FCBD) meeting is been convened from July 14 – 18, 2023 in Gandhinagar. The two-day meeting is being co-chaired by Ajay Seth, Secretary, Department of Economic Affairs, and Dr. Michael D. Patra, Deputy Governor, of RBI. The G20 members and other partner countries will share views on major global economic challenges during this meeting.

On the first day of the meeting, the delegates deliberated on strengthening Multilateral Development Banks (MDBs) in a roundtable session. The focus of the meeting is to deliberate on the outcome document ahead of the New Delhi G20 Leaders’ Summit. This outcome document will present the work done under the different work streams of the G20 Finance Track and the FMCBG’s guidance on the way forward. The discussions from this meeting will be carried forward to the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) meeting which is scheduled to take place in July.

Union Finance and Corporate Affairs Minister Nirmala Sitharaman and Reserve Bank of India (RBI) Governor Dr. Shaktikanta Das will jointly chair the meeting. The third FMCBG meeting will be attended by G20 members, finance ministers, and central bank governors of guest countries as well as heads of international organizations. Discussions related to the global economy and international financial architecture will be held during this meeting.

The meeting will be organized in five thematic sessions, including Global Economy and Global Health, Sustainable Finance, and Infrastructure, International Financial Architecture, International Taxation and the Financial Sector, and Financial Inclusion. Apart from this, the G20 representatives will also discuss the ‘Funding and Financing Mechanism for the Cities of the Future’.
On the sidelines of the meeting, a vibrant cultural program will be organized for the Finance Ministers, Central Bank Governors, and their delegations. Local excursions have also been planned for the delegates, including a visit to the Statue of Unity at Kevadia.


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