The Finance Track
People, planet, prosperity: The Italian G20 Finance track
The Finance Track gathers G20 Finance Ministers and Central Bank Governors to discuss global economic, fiscal and monetary issues. Although throughout the years G20 discussions expanded their area of interest, economic issues remain at the core of its work.
The Finance Track is structured into six separate working groups, dedicated to sustainable and inclusive growth, international financial architecture, infrastructure, sustainable finance, financial inclusion and Africa. On April 7, G20 Finance Ministers and Central Bank Governors welcomed the proposal made by the Italian Presidency to re-establish the Sustainable Finance Study Group and agreed to turn it into the Sustainable Finance Working Group (SFWG).
Framework Working Group (FWG)
The Framework Working Group (FWG) monitors the evolution of the global economic outlook, while coordinating policies aimed at underpinning a strong, sustainable, balanced, and inclusive growth. In the wake of the crisis caused by the pandemic, the primary goal of the FWG is to advance economic policy proposals to sustain the global recovery.
International Financial Architecture Working Group (IFA WG)
The International Financial Architecture (IFA) Working Group works to enhance stability and cohesion of the international financial system. It addresses the challenges related to debt sustainability and transparency; strengthening global financial safety nets; volatile capital flows and associated risks; financing for development in low-income countries; coordination between international financial institutions, including multilateral development banks.
Infrastructure Working Group (IWG)
The Infrastructure Working Group (IWG) advises on policies to improve preparation, financing and management of quality infrastructure investments to secure the provision of inclusive, sustainable and resilient basic infrastructure services to all. The Group aims to tackle the persistent gap in infrastructure investment, also by promoting them as an asset class as to stimulate private sector involvement.
Global Partnership for Financial Inclusion
In 2010, the Global Partnership for Financial Inclusion was created to advance financial inclusion globally as a mean of increasing well-being and achieving a sustainable and inclusive growth. The focus of its action is to enhance the access to, and the use of, responsible formal financial services – also through digital means – for families and businesses. It also helps to promote an adequate financial education and to strengthen financial consumer protection.
Sustainable Finance Working Group
The SFWG aims to mobilize sustainable finance as a way of ensuring global growth and stability and promoting the transitions towards greener, more resilient and inclusive societies and economies. The Group is tasked to identify institutional and market barriers to sustainable finance and to develop options to overcome such barriers, and to contribute to a better alignment of the international financial system to the objectives of the 2030 Agenda and the Paris Agreement.
Africa Advisory Group
The Africa Advisory Group (AAG) is responsible, since 2017, for leading the G20 Compact with Africa, with the aim of improving the environment for private investment in African countries and fostering growth and sustainable development.
- G20 Finance Track in Genoa: Integrating local perspectives into the G20 infrastructure agenda (9/27/2021)
- G20 Finance Track Deputies met in Naples (9/14/2021)
- Third G20 Finance Ministers and Central Bank Governors meeting in Venice (7/9/2021)
- Second G20 Finance Ministers and Central Bank Governors meeting under the Italian Presidency (4/7/2021)
- G20 Finance Track Deputies engaged in the G20 Communiqué drafting (4/2/2021)
- First G20 Finance Ministers and Central Bank Governors Meeting (2/26/2021)
- 2nd G20 Framework Working Group meeting: making global economy more resilient by financing intangible asset (2/4/2021)
- First G20 Finance and Central Bank Deputies meeting (1/25-26/2021)
- G20 2021: economic recovery will be through digital revolution (1/12/2021)
- First G20 Finance Track meeting (12/16/2020)
- G20 Finance Track official meetings kick off (12/15/2020)