The third G20 Framework Working Group (FWG) meeting under the Indian G20 Presidency is scheduled to take place in Kochi from June 13 to 14.
V Anantha Nageswaran, Chief Economic Advisor, and acting Co-chair Tom Hemingway, Deputy Director, HM Treasury, UK, will jointly chair the meeting. More than 75 delegates from G20 member countries, invitee countries, and international and regional organisations will participate.
Primary focus
The G20 FWG focuses on global macroeconomic issues of current relevance. As per the mandate received from G20 Finance Ministers and Central Bank Governors in February, the group has been deliberating on the macroeconomic implications of food and energy insecurity, macroeconomic risks arising from climate change and transition policies, and other risks to the global economy such as inflation, financial globalisation, and financial stability.
In the upcoming meeting, detailed deliberations will be held on the current global economic outlook based on presentations from international organisations such as the IMF and World Bank. The membership will also deliberate on draft G20 reports on the macroeconomic implications of food and energy insecurity and on the macroeconomic impact of climate change and transition pathways.
The objective is to develop a shared understanding of the policy experiences of member countries in tackling the macroeconomic implications of food and energy insecurity as well as climate change and transition pathways. They will also attempt to explore areas where global cooperation can help support the domestic efforts of countries.
Panel discussion
A G20 panel discussion on “Financial Globalisation: Opportunities and Risks” will be held on the sidelines of the meeting.
The panel discussion is meant to develop a collective understanding among the G20 membership regarding the dynamics of macroeconomic policy challenges facing countries in the context of financial globalisation.
The Reserve Bank of India will host a number of Jan Bhagidari events to make G20 discussions more inclusive and people-centric. This includes a series of events on financial literacy, an awareness programme on the G20, a painting competition, slogan writing, and a note exchange mela, among others, targeted at the general public, students, and self-help groups.