Second G20 FWG to discuss global macro-economic issues: CEA

A clutch of issues including inflation, energy security and climate change would be discussed in the G20 second framework working group meeting scheduled to begin in Chennai on Friday, chief economic advisor V Anantha Nageswaran said here on Thursday.

The second G20 framework working group (FWG) meeting under India’s G20 presidency is set to take place in Chennai on March 24 and 25. The chief economic adviser (CEA) Nageswaran and Clare Lombardelli, chief economic adviser, UK Treasury, will jointly co-chair the meeting.

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Over 80 delegates from G20 member countries, invitee countries, and various international and regional organisations will participate in the meeting.

Speaking at a press briefing on the two-day deliberations, Nageswaran, said : “The framework working group of the G20 finance track will discuss global macro economic issues of relevance today. It will deliberate on how international policy cooperation can be enhanced to achieve strong sustainable balance and inclusive growth across G20 nations.”

He said under India’s G20 presidency, the group will be focusing on macroeconomic impacts of food and energy insecurity, climate change and transition pathways. In the Chennai meeting of the FWG, the members will focus on sharing policy experiences on these issues and discuss the way ahead on how FWG discussions can inform the G20 finance ministers and Central bank governors who will be meeting in Washington D C on April 12-13, 2023.

The CEA said since the first working held in December last year in Bengaluru significant progress has been made on the priorities and deliverables. “The second working group meet in Chennai will further make advancements on these,” he said.

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As a prelude to the FWG meeting, the Reserve Bank of India has also been arranging events to make G20 discussions more inclusive and people-centric from March 16, 2023. On the sidelines of the G20 FWG meeting, a panel discussion on the macroeconomic impacts of climate change and transition pathways will be held on March 25, 2023, in collaboration with the UAE who will be holding the COP-28 presidency.