G20 Wraps Up with Talks on Global Economy, Supply Chains

In the next session, experts from the USA, Brazil, Canada and South Africa gave presentations on the global economic scenario…reports Asian Lite News

Global economic outlook and challenges to supply chain took centre stage on the opening day of the two-day G20 Framework Working Group (FWG) meeting which began in Chhattisgarh’s capital Raipur on Monday, a government official said.More than 65 delegates from G20 member and invitee countries and various international and regional organisations are taking part in the fourth and final meeting of the G20 FWG under India’s G20 Presidency being held here in Nava Raipur, the official added.Chandni Raina, advisor to the Union Finance Ministry and Sam Beckett, chief economic Adviser, HM Treasury, UK chaired the first session which saw a discussion on the latest global economic outlook and policy guidance on key macroeconomic issues in the first session, according to the official.

In the last session, presentations on the challenges to the supply chain and its microeconomic aspects were given, he said. Organisation for Economic Co-operation Development (OCAD), International Labour Organization (ILO) and World Trade Organization (WTO) also gave their presentations on various aspects of this issue, he said.In the same session, experts from China, South Korea and Germany also put forth their views, the official added.After the meeting, G20 delegates planted saplings at G20 Vatika in Sector 24 Nava Raipur, which has been developed in view of the event.On Tuesday, the concluding day of the meeting, a discussion will be held on a strong, sustainable, balanced and inclusive development, the official said.The 3rd G20 Framework Working Group (FWG) meeting under the Indian G20 Presidency took place in Kochi from June 13-14, 2023. More than 75 delegates from G20 member countries, invitee countries, and various international and regional organisations participated in the meeting, according to a G20 press release.

The G20 FWG focuses on global macroeconomic issues of current relevance. As per the mandate received from G20 Finance Ministers and Central Bank Governors in February 2023, the group has been deliberating on the macroeconomic implications of food and energy insecurity, macroeconomic risks arising from climate change and transition policies, and other risks to the global economy such as inflation, financial globalisation, and financial stability, the release added. (ANI)