G20 discusses global economic climate in Buenos Aires
Over 55 senior officials are taking part in the Third Meeting of Finance Ministers and Central Bank Governors. The future of work and infrastructure for development are the main items on today’s agenda.
The Third G20 Meeting of Finance Ministers and Central Bank Governors began at 2.30 pm local time today. Over 55 senior officials are discussing the risks and opportunities of the world economy over a two-day meeting at the Buenos Aires Convention & Exhibition Centre (CEC). The agenda includes sessions on the future of work and infrastructure for development, two of the priorities of the Argentine G20 presidency this year.
As regards the future of work, participants will make the final adjustments to a menu of public policies designed to maximize the benefits and tackle the challenges of technological transitions. Ensuring a gender perspective, the document is framed around four overarching objectives: to harness the benefits of technology for growth and productivity, support people during transitions, secure sustainable tax systems and ensure the best possible evidence to inform decision-making.
Discussions will also focus on developing infrastructure as an asset class attractive to private investors, with a goal of reducing the global deficit in infrastructure, which could – according to some estimates – reach USD 5.5 trillion by 2035.
At 6.30 pm local time, the traditional family photo will be taken. The participants will then dine at the Centro Cultural Kirchner (CCK), where they will also enjoy a special Argentine tango show by renowned tango dancer Mora Godoy.
Morning press conference
Nicolás Dujovne, Argentina’s Treasury Minister, and Christine Lagarde, IMF Managing Director, gave a joint press conference at the CEC this morning. “The Argentine G20 presidency is a very good opportunity to push several issues forward on their agenda,” stated Ms Lagarde.
The meeting continues tomorrow with four working sessions, until 3.30 pm. Technology in the financial sector, the international tax system and financial inclusion are among the items on the agenda.
Once the discussions have finished, Mauricio Macri, Argentina’s President, will join the ministers at the CEC and make a few closing remarks. At 4.30 pm, Argentina’s Treasury Minister, Nicolás Dujovne and President of the Central Bank of the Argentine Republic, Luis Caputo, will give a press conference to brief on the meeting’s highlights. Senior officials will also issue an official communiqué.
23 finance ministers, 14 central bank governors and 10 senior representatives from international organizations are among the meeting participants. Besides Nicolás Dujovne, Luis Caputo and Christine Lagarde, these include: Jim Yong Kim, President of the World Bank Group; José Ángel Gurría, Secretary-General of the Organization for Economic Cooperation and Development; Luis Alberto Moreno, President of the Inter-American Development Bank; Mario Draghi, President of the European Central Bank; Liu Kun, China’s Minister of Finance; Steven Mnuchin; United States Secretary of the Treasury, and Philip Hammond, UK Chancellor of the Exchequer.