Argentine Treasury Minister Dujovne and Central Bank President Caputo highlight key G20 role in global governance

At the close of the finance ministerial in Buenos Aires, the Argentine G20 presidency also stressed the group’s consensus on the contribution of trade to economies.

The Third G20 Meeting of Finance Ministers and Central Bank Governors finished today in Buenos Aires with a press conference by the meeting’s chairs, Argentina’s Minister of Finance, Nicolás Dujovne, and the President of the Argentine Central Bank, Luis Caputo. Both officials alluded to the role of the G20 in global governance and concurred on the contribution of trade to economies. These conclusions were reflected in the meeting’s official communiqué.

“This meeting has shown that the G20 continues to be the most relevant forum in the world; over the course of the meeting, we built unanimous consensus on several items on the economic agenda,” Dujovne said. “We made huge progress and achieved tangible results.”

“We restated that trade and investment are engines of growth, productivity, innovation, job creation and development,” added Dujovne, in reference to the discussions on the global economy. “We have committed to doubling our efforts to bolster dialogue in these areas.”

Meanwhile, Caputo alluded to progress made on discussions around infrastructure for development, one of priorities of the Argentine G20 presidency. He highlighted the importance of “capturing private investment, which today amounts to USD 80 trillion. Only 1% to 1.5% of this goes to infrastructure… We endorse the guidelines that will help us build a portfolio of projects that are easier to finance,” he added.

The Argentine Central Bank President also pointed to financial inclusion, which “contributes to growth and to better standards of living for all citizens.” In this regard, he added that “an emphasis was placed on digitalization and on the benefits it may bring, particularly for least developed countries, where informal sectors are a considerable component of the economy.” He defined “digitalization as a first step towards formalizing economies.”

Two more finance ministerial meetings are scheduled before the 2018 Leaders’ Summit: the fourth ministerial takes place on 11 and 12 October in Bali, Indonesia, and the fifth and final ministerial is scheduled for 29 November in Buenos Aires.

 

President Macri joints the meeting’s final session

Argentina’s President, Mauricio Macri, made closing remarks at the last session of today’s meeting. “The G20 is much more than a Declaration of Leaders,” he said. “It is a gradual process of plural dialogue and global negotiation. The discussions that take place in this forum have an impact on each of the citizens of our countries.”​