The G20 established its Data Gaps initiative following the global financial crisis of 2008. It is the responsibility of the G20 Finance Track, with the goal of improving the availability and comparability of economic and financial data. This meeting comes after international experts in the field met in Buenos Aires in January to gather recommendations for the data collection agencies of G20 members.
The group previously met in February, where discussions focused on how technology could advance sustainable investment. Three research topics were agreed for 2018: securitisation of sustainable assets, development of sustainable private equity/venture capital, and digital innovations for mobilising sustainable finance. Continuing its work from the first meeting, the Study Group will produce the 2018 G20 Sustainable Finance Synthesis Report and submit it to the G20 Finance Ministers and Central Bank Governors Meeting in July and G20 Leaders’ Summit in November.
According to Laurence Carter, Senior Director for Infrastructure, PPPs and Guarantees of the World Bank, said: “Infrastructure hits the sweet spot for economic growth, jobs and addressing inequality.” This followed the agreement at the First G20 Meeting of Finance Ministers and Central Bank Governors in March in Buenos Aires to promote conditions needed to help develop infrastructure as an asset class that is attractive to private investors.
The meeting follows the forum’s first meeting of the year, which was held in March, in Paris. At that gathering, discussions focused on exchanging and reviewing information, with a longer-term view to find consensus on the process and timeline for the removal of market distorting subsidies and similar support.
The BRICS Business Council meets in Durban on 22 and 23 July, followed by the BRICS Business Forum, which will meet in Gauteng on 25 July. Council themes for this year include the Fourth Industrial Revolution, youth entrepreneurship and food security.
The G20 foreign ministers met in Buenos Aires on 20 and 21 May 2018 to discuss global governance, development and gender, amongst other issues. “Multilateralism is under pressure; we therefore consider it very important that the G20 provide responses,” ministers concluded. Read more.
Finance ministers and central bank governors agreed that now is a good time to normalise monetary policy, and expressed optimism on the future of work, one of the priorities of the Argentine G20 presidency.
The theme for this year’s 10th BRICS Summit is “BRICS in Africa: collaboration for inclusive growth and shared prosperity in the 4th Industrial Revolution”.
Argentina took over the Presidency of the G20 from Germany on 1 December 2017. The central themes of the Argentina Presidency are:
The GEGAfrica project has been funded by UK aid from the UK government; however the views expressed do not necessarily reflect the UK government’s official policies.