THE TWO-DAY MEETING of Finance Ministers and Central Bank Governors of the G20 countries concluded here on Tuesday, endorsing a road map for enhanced lending capabilities of multilateral development banks (MDBs), the need to address debt vulnerabilities and a coordinated risk-based regulatory framework for cryptos.
However, the deliberations could not produce a joint communique, given the differences between the G7 segment and Russia on how to describe the Ukraine conflict. "Chair statement (rather than joint communique) is because we still don't have a common language on the Russia-Ukraine war. Our position since February (Bengaluru FMCBG) has been that we derive the statement from Bali leaders' statement," Union finance minister Nirmala Sitharaman said.
Another issue, where no consensus could be reached was global food and energy prices. Several G20 members condemned Russia for quitting the Black Sea grain deal that allowed the safe export of grain from Ukraine.
As for the implementation of the OECD/G20 two-pillar international tax package, the G20 ministers welcomed the text of the convention that prescribes reallocation of MNCs' profits to jurisdictions they operate, and the "significant progress" of work to simplify tax administration.
This story is from the July 19, 2023 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 19, 2023 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Diplomacy Just As Vital As Expertise To Run Restaurant
I HAVE TWO pieces of pat advice for anyone rash enough to approach me for counsel. First, never speak to the press. Second, don't open a restaurant.
Comfortable design for 24/7 wear
It tracks fitness, sleep, stress & other key health vitals
Avenue needs a q-commerce boost
THE RETAILER IS LOSING OUT ON CONSUMER SPENDS
TN loses investment body chief ahead of meet
VISHNU VENUGOPALAN, MD & CEO of Guidance Tamil Nadu and a key bureaucrat instrumental in attracting major investments, including Cisco, Jabil, and Ford Motor's re-entry into the state, has exited the agency, multiple sources told FE.
Pick-up in investments, hiring expected in FY26: CII Survey
THE MAJORITY OF private firms are expected to step up investments and employment in 2025-26, as India continues to shine as a bright spot in a challenging global economic environment, according to a survey by industry body CII.
Trade partner or adversary?
India must think beyond China-Plus-One strategy as the world trade order is rapidly changing
A big display for entertainment
A budget phone that provides a hasslefree experience
A handy tool for home security
It captures clear video footage up to 20 metres
Free up pricing of agriculture
MSP FRAMEWORK NEEDS A REVISIT, IN TERMS OF FREEING UP PRICES OF PRODUCTS AS ALSO MAJOR INPUTS
Trump Holds Victory Rally Ahead of Inauguration
Mukesh, wife Nita to attend the event
