Key Points
Marrakech, Morocco: The G20 finance ministers and central bank governors (FMCBG) agreed to "ambitious efforts" for substantially reforming and strengthening multilateral development banks (MDBs), including increasing their lending capacity...
They also adopted a road map for the regulation of crypto assets, marking significant progress on India's G20 agenda..
"...The G20 finance track saw key achievements in several areas of India's presidency year," said finance minister Nirmala Sitharaman on Friday, briefing reporters on the outcome of the fourth and last G20 FMCBG meeting under India's presidency...
She listed progress on strengthening of MDBs, advancing financial inclusion and productivity gains through digital public infrastructure, crypto assets agenda, managing global debt vulnerabilities, and financing cities of tomorrow...
The board of each MDB will be best placed to determine if and when a capital increase is needed in addition to CAF measures to support efforts in addressing global challenges and meeting development needs, the communique said.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
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