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4th G20 Finance Ministers and Central Bank Governors Washington Meeting on 13 October 2021

October 7, 2021

On 13 October 2021, G20 Finance Ministers and Central Bank Governors (FMCBGs) will convene in Washington for their fourth meeting under the Italian G20 Presidency. This meeting will be held on the occasion of the International Monetary Fund (IMF) – World Bank Group (WBG) Annual Meetings.

After the 3rd FMCBG meeting in July in Venice, G20 members will progress their discussions on issues related to international economy and global health and on the efforts geared towards the promotion of a more sustainable growth. While the global recovery has continued at a solid pace, mainly thanks to the roll out of vaccines, it remains uneven across and within countries, and exposed to downside risks. Ministers and Governors will exchange views on how to continue to sustain the economic recovery and address the adverse consequences of the pandemic, especially on the most impacted groups of the society. 

After the historic agreement on the key components of the two pillars on the reallocation of profits of multinational enterprises and an effective global minimum tax reached in July, Ministers and Governors are expected to endorse the final political agreement to establish a more stable and fairer international tax architecture. 

The G20 FMCBGs will also assess how to continue supporting vulnerable countries affected by the COVID-19 pandemic. Following up on the IMF general allocation of USD 650 billion Special Drawing Rights (SDRs), discussion will now focus on options for voluntarily channelling a share of the allocated SDRs to help countries in critical conditions. Exchange of views will also continue on the Common Framework for Debt Treatment beyond the Debt Service Suspension Initiative (DSSI) and the International Development Association replenishment.

Given the increasing relevance of green issues in the G20 agenda, Ministers and Governors will discuss options for strengthening the coordination in tackling climate change. In July, the G20 agreed to promote transitions towards greener, more prosperous and inclusive economies and societies: now various G20 work streams will have to act in synergy to build an effective policy mix to move towards carbon neutral economies. In line with the 2030 Agenda for Sustainable Development and the objectives of the Paris Agreement, the membership is expected to endorse the G20 Sustainable Finance Roadmap, which has been prepared by the Sustainable Finance Working Group. 

The Ministers and Governors' agenda also includes items related to financial sector related issues, with a focus on the progress made in implementing the G20 Roadmap for Enhancing Cross-border Payments

G20 FMCBGs will attend the Meeting in person from 15.45 to 20.45 CEST (09.45 14.45 EDT). The Meeting will be followed by a press conference co-chaired by Daniele Franco, Italian Minister of Economy and Finance, and Ignazio Visco, Governor of the Bank of Italy and their respective deputies, Alessandro Rivera and Luigi Federico Signorini.

The virtual press conference will start at 21.15 CEST (15.15 EDT). 

Journalists interested in following the press conference must send an accreditation request to g20italyfinance.media@mef.gov.it  by Tuesday, 12 October at 24.00 CEST. The request must include: full participant name, media outlet and email address. Only accredited journalists will be accepted to the virtual press conference and the digital access must be made using the same name and media outlet provided for the media accreditation request.

Due to the Covid-19 security measures, it will not be possible for journalists and camera crews to access the International Monetary Fund's headquarters at any time on Wednesday, 13 October 2021.

Photos, videos and official documents of the G20 Finance Ministers and Central Banks Governors meeting will be available on www.g20.org

The Press Conference will be livestreamed here.

Any additional request or question related to the Press Conference, can be addressed to g20italyfinance.media@mef.gov.it

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Source: Official website of the Italy's G20 Presidency


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