Last updated on July 12th, 2023 at 04:28 pm
Estimated reading time: 2 minutes
The first International Financial Architecture Working Group meeting of G-20 under India’s chairmanship will be held in Chandigarh on 30-31 January 2023. Shri Narendra Singh Tomar, Union Agriculture and Farmers Welfare Minister, and Shri Pashupati Kumar Paras, Food Processing Industries Minister, will inaugurate the meeting.
This evening, Shri Tomar reached Chandigarh ahead of the meeting tomorrow, where he was welcomed with cultural performances from Punjab and Haryana.
The working group on international financial architecture is one of the important groups under the G-20 finance track that focuses on strengthening the global financial system. The goal is also to address various challenges faced by vulnerable countries.
Approximately 100 delegates from G-20 member nations, invited countries, and international organizations will participate in the two-day meeting. As well as by the co-chairs of the International Financial Architecture Working Group, France and South Korea, the Ministry of Finance and the Reserve Bank of India will jointly moderate discussions during the two-day meeting.
The meeting will discuss ways to enhance the stability and coherence of international financial architecture and enable it to address the global challenges of the 21st century. The meeting will also focus on finding ways to maximize assistance to poor and vulnerable countries.
A G-20 event titled ‘Central Bank Digital Currencies (CBDCs): Opportunities and Challenges’ will be held on the sidelines of the G-20 Working Group meeting on January 30. The goal of the event is to share different countries’ experiences and to develop a greater understanding of the wider effects of CBDCs.
A number of events have been organized across the city in Chandigarh prior to this meeting, indicating widespread ‘people’s participation’ and interest in the G-20 events under India’s chairmanship.
A seminar on “Central Bank Digital Currencies: The Indian Story” was organized in Chandigarh on 25 January 2023 as a precursor. The events are aimed at creating awareness about India’s chairmanship of the G-20 in 2023 and its theme “Vasudhaiva Kutumbakam” which means “One Earth – One Family – One Future”.
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