Fourth G20 Finance Ministers and Central Bank Governors meeting under the Argentinian presidency
The fourth G20 Finance Ministers and Central Bank Governors meeting under the Argentinian presidency in the fora took place on 11-12 October 2018 in Bali, Indonesia on the margins of the International Monetary Fund (IMF) and the World Bank annual meetings. The meeting was attended by heads of the international organizations, namely Christine Lagarde, Managing Director of the IMF; Jim Yong Kim, President of the World Bank; and Mario Draghi, President of the European Central Bank. The meeting was chaired by Nicolás Dujovne, Argentine Minister of the Treasury.
“We have discussed the outlook of the global economy, which remains positive, while global growth projections remain steady,” Dujovne said.
According to Dujovne, “as monetary policy continues to normalize in advanced economies, financial conditions tighten in emerging ones, and several emerging economies have experienced market volatility.”
With respect to trade tensions, he said: “We agreed that international trade is an important engine of growth, and we need to resolve tensions which can negatively affect market sentiment and increase financial volatility.”
Cooperation among G20 members is key to sustain global financial stability, he said.
Dujovne also spoke about the discussions on infrastructure for development, one of the priorities defined by the Argentine G20 presidency, “given its importance for economic prosperity, sustainable development and inclusive growth.” Then he added: “We have focused on how to catalyze private sector investment in infrastructure by putting in place the necessary conditions to develop infrastructure as an asset class.”
During the meeting the sessions on international financial architecture; the Compact with Africa initiative, launched under the 2017 G20 to promote private investment in the African continent; and the agenda on financial inclusion, among other topics were held.
On 29 November, hours before the Summit, Finance ministers will meet a fifth and last time to wrap up their work during the G20 2018.
Press-release at the Argentinian G20 presidency official web-site