'G20 achieved a lot in many key areas'

G20 this year made "significant headway" on issues like global debt vulnerabilities

Union finance minister Nirmala Sitharaman on Thursday said the finance track of G20 saw key achievements in several areas, including strengthening the MDBs (multilateral development banks) to address shared global challenges of the 21st century, advancing financial inclusion and productivity gains through digital public infrastructure (DPI), and mobilising climate finance, after a final communique was unanimously adopted by the G20 Finance Ministers and Central Bank Governors (FMCBGs).

"Global economy ministers and governors recognised that the global economy has shown resilience to recent shocks. The members reiterated that the need for well-calibrated monetary fiscal and financial and also structural policies to promote growth and reduce inequalities and maintain macroeconomic financial stability," Sitharaman said at a press briefing in Marrakech, Morocco, after the fourth and final meeting of the G20 FMCBGs under the Indian presidency.

The meeting was held on October 12-13, on the sidelines of the annual International Monetary Fund and the World Bank Group meeting. The previous FMCBGs meetings were held in Bengaluru, Washington DC and Gandhinagar, Gujarat. Over 370 delegates, including finance ministers and central bank governors from G20 member countries, invitee countries, and heads of various international organisations participated in the meeting.