On 1 January 2024 to 31 December 2024, Italy took over the presidency of the G7, or Group of Seven, the intergovernmental organisation that brings together seven of the world's most advanced economies: Canada, France, Germany, Japan, Italy, the United Kingdom and the United States, and in which the European Union also participates.
G7 Finance
For the Ministry of Economy and Finance, the main event was the meeting of the finance ministers and central bank governors of the G7 countries held in Stresa, Piedmont, from 23 to 25 May 2024.
The meeting, with an intensive work agenda, has been attended by the finance ministers and governors of the G7 countries, the European Commissioner for Economic and Monetary Affairs, the President of the Eurogroup as well as the heads of the major international organisations, for a total of about 25 international delegations.
At the fifth G7 meeting of Finance Ministers and Central Bank Governors in Washington, also attended by Ukrainian Finance Minister Sergii Marchenko, Minister Giancarlo Giorgetti announced the agreement for a loan to Ukraine of USD 50 billion (Euro 45 billion).
The sixth and final G7 meeting of Finance Ministers and Central Bank Governors under the Italian presidency was held, in virtual mode, on December 19. The High-Level Panel of Experts’ Report to the G7 on “Artificial Intelligence and Economic and Financial Policy Making" was presented at the concluding summit (read the Report here).
G7 Finance Track – Italy’s 2024 Delivered Outcomes
The G7 Finance Track took on an ambitious agenda in 2024 organizing over forty-five gatherings including six Finance Ministers and Central Bank Governors’ meetings, among which the one hosted in Italy in Stresa, an outreach session with African and G20 Countries, and a specific G7-Africa meeting with the participation of six African Countries. The agenda included: global economy, fragmentation, and economic resilience; support for Ukraine including the ERA Loan Initiative; artificial intelligence; financial sector, digitalization, and financial stability; initiatives for development in Africa; support to vulnerable Countries and Development Banks and Funds; green agenda; global health; the 7th OECD Forum on Well-Being; and international taxation (read the full document here).
Documents
- G7 Finance Track – Italy’s 2024 Delivered Outcomes - December 31, 2024
- Press release Italy’s G7 Finance Track Presidency - December 20, 2024
- G7 - Africa Ministerial Roundtable, Chair’s Summary – Washington, 26 October
- G7 Finance Ministers and Central Bank Governors’ Statement – Washington, 25 October
- G7 Finance Ministers’ Statement on Extraordinary Revenue Acceleration (ERA) Loan Initiative – Washington 25 October
- Communiqué Finance Ministers and Central Bank Governors Meeting – Stresa 23-25 May
- Annex I (Full Document – Finance Track Menu of policy options for a just transition towards net zero)
- Annex I (Summary – Finance Track Menu of policy options for a just transition towards net zero)
- Annex II (Full Document – High-Level Framework for PPIPs against Natural Hazards)
- Annex II (Summary – High-Level Framework for PPIPs against Natural Hazards)
- Annex III (OECD-G7 2024 Progress Report Tax Cooperation)
- Annex IV (Update note on the Rise Partnership G7 FMCBG)
- Annex V (Note AGIA G7 FMCBG Meeting)
- Annex VI (AVMA for G7 Background Note_G7 FMCBG Meeting)
- Statement Finance Ministers and Central Bank Governors Meeting – Washington 17 April
Read more
- G7: Giorgetti and Panetta chair last finance meeting under the Italian presidency
- G7 Finance and Health Ministers met to discuss common priorities on Global Health
- Giorgetti announces G7 agreement for 50 billion loan to Ukraine
- The G7 Finance summit in Stresa comes to an end: key points from the Communiqué and the closing press conference
- The G7 Finance got under way in Stresa: Minister Giorgetti and Governor Panetta opened the meeting
- A new coin dedicated to the Italian Presidency of the G7
- Giorgetti in Brussels presents the G7 Finance in Stresa
- The official website of the Italian G7 Presidency