G20 Finance Chiefs To Discuss The Reforms

Finance Ministers and Central Bank Governors of the G20 member nations are set to meet and discuss the reforms for multilateral development banks, a framework for crypto assets, and debt treatment of some of the countries, Indian government officials reported on Wednesday.

India is holding this year’s G20 presidency wherein global chiefs and deputies will be joining. This meet will be held in the western state of Gujarat between 14th July to 18th July.

The first volume of the report on strengthening multilateral development banks by an expert group set up under the G20 and a “guidance note” to develop a globally coordinated framework for regulation and supervision of the crypto asset will be discussed. India’s economic affairs secretary Ajay Seth talked about this in a video address.

“The bloc will also discuss the debt treatment of countries under the so-called Common Framework which is a G20 initiative launched in 2020 to help the poor countries in delaying debt repayments”, said Ajay Seth.

For more updates on the created reforms stay updated with our news on Trade Finance.

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