 "Finance Minister Nirmala Sitharaman virtually addressing a G20 Finance Track seminar, on Friday Photo: Pti")
Brazil taking over the G20 presidency in 2024 and India joining South Africa as the G20 troika was an excellent opportunity to provide positive momentum and elevation to the issues of the Global South, much like the G20 Finance Track had done under the Indian presidency, finance minister Nirmala Sitharaman said on Thursday in Marrakech, Morocco.
The minister met with Brazil's economy minister Haddad Fernando on the sidelines of the fourth G20 Finance Ministers and Central Bank Governors meeting.
"The two ministers discussed issues of mutual interest, including strengthening MDBs, mobilising finance for climate change, crypto assets, Financing Cities of Tomorrow, advancing financial inclusion, managing global debt vulnerabilities, and BRICS expansion," the finance ministry said in a tweet.
Sitharaman also met Jeremy Hunt, chancellor of the exchequer, United Kingdom, to discuss issues of mutual interest, including the Bilateral Investment Treaty (BIT).
Sitharaman also met Mulyani Indrawati, finance minister of Indonesia, on the sidelines of the FMCBG to discuss issues of common interests under G20 India, including on areas like sustainable finance, international taxation and crypto, among others, finmin said in a tweet.
Both the ministers noted the G20 Independent Expert Group's important guidance for the MDBs reform agenda and resolved to ensure that progress achieved this year on the MDBs is leveraged going forward.
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In respect of climate action, the ministers shared views on how unilateral measures may not be effective and may have adverse effects on addressing climate issues.
The finance ministry's tweet also said the ministers agreed to finalise the areas of cooperation and modalities towards the 1st Economic and Financial Dialogue (EFD) between the two countries at the earliest.
