MINISTER GORANOV TOOK PART IN THE G20 MEETING OF THE WORLD ECONOMIC LEADERS IN BUENOS AIRES
21.03.2018
Minister of Finance and Chair of the Economic and Financial Affairs Council (ECOFIN) Vladislav Goranov represented the Council of the European Union at the First G20 Meeting of Finance Ministers and Central Bank Governors within Argentina’s Presidency, which took place on 19-20 March 2018 in Buenos Aires, Argentina.
During the first day of the forum the discussions covered the financing of infrastructure projects, the impact of technological changes on the possibilities for more and better jobs, and the main risks and opportunities in the global economy.
The topics from the second day included the measures which need to be taken in the area of financial regulation and for further strengthening the global financial safety net so that the global financial system could remain strong and sustainable, as well as for greater transparency to support the fight against tax evasion and avoidance.
The Communiqué reflects the commitment of Finance Ministers and Governors to strengthen the contribution of trade to the economy. The participants in the forum agree that international trade and investment are key drivers for growth, productivity, innovation, job creation and development. The highlights in the document are a growth supportive global financial system, the risks but also the potential of crypto-currencies, as well as the development of infrastructure as an asset class.
The Group of Twenty (G20) is a global forum for financial and economic cooperation, with its members being the countries with the largest economies in the world plus the European Union which is represented by the country that holds the presidency of the Council of the EU and representatives of the European Commission and the European Central Bank. Each year the group is represented by a different Member State; this year this role has been taken over by Argentina. The priorities of the Argentina’s presidency of the G20 focus on the influence of technology on productivity, growth, employment and inequality, investment in infrastructure and sustainable food supply.