G20

G20

Welcome to our G20 Blog Section, here you will find information and latest news on the G20.

The G20 is an informal group of 19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank. The finance ministers and central bank governors began meeting in 1999, at the suggestion of the G7 finance ministers in response to the global financial crisis of 1997-99.

The Group of Twenty (G20) is an international forum that brings together the world’s 20 leading industrialised and emerging economies. The group accounts for 85 per cent of world GDP and two-thirds of its population.

Much of the important business takes place on the sidelines and in informal meetings.

Membership of the G20 consists of 19 individual countries plus the European Union (EU). The EU is represented by the European Commission and by the European Central Bank. Collectively, the G20 economies account for around 85% of the gross world product (GWP), 80% of world trade (or, if excluding EU intra-trade, 75%), two-thirds of the world population,and approximately half of the world land area.

Below is our list of blogs about G20.

India ‘seriously committed’ to taking BBIN, BIMSTEC forward: Shringla – bdnews24.com

Harsh Vardhan Shringla said several initiatives, including in the area of connectivity, are being planned under these groups. Shringla made the comment just ahead of the BIMSTEC Summit in Kathmandu at the end of this month. Prime Minister Sheikh Hasina is expected to join the summit and meet with her Indian counterpart Narendra Modi. “We attach high importance to the BIMSTEC as it touches upon two major aspects of our foreign policy–‘Neighbourhood First’ and the ‘Act East Policy’,” he said.…

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Merkel: Turkey Must Ensure Independence of Central Bank

German Chancellor Angela Merkel urged Turkey on Monday to ensure the independence of its central bank as other senior officials said that Turkey’s economic woes were causing great concern. The Turkish lira has lost more than 40 percent against the dollar this year, largely due to worries about President Tayyip Erdogan’s influence over the economy, his repeated calls for lower interest rates, and worsening ties with the United States. The currency pulled back from a record low to the dollar…

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The people’s economy: the rise of populism and risk to growth

Surveying the end of the Cold War in 1989, political scientist Francis Fukuyama famously argued in an essay titled The End of History that Western liberal democracy was the culminating form of government. That is not quite how things have played out. History, you might say, has returned. Consider the G20. Establishment political parties in those countries, the avatars of Western democracy, have seen their share of the G20’s total economic output shrink in recent years. The most striking countertrend…

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Turkey must ensure independence of central bank

German Chancellor Angela Merkel urged Turkey on Monday to ensure the independence of its central bank as other senior officials said that Turkey’s economic woes were causing great concern. The Turkish lira has lost more than 40 percent against the dollar this year, largely due to worries about President Tayyip Erdogan’s influence over the economy, his repeated calls for lower interest rates, and worsening ties with the United States. The currency pulled back from a record low to the dollar…

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FSB, bodies consult on derivatives

The Financial Stability Board (FSB), the Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) has published a consultative document on Incentives to centrally clear over-the-counter (OTC) derivatives.Centrally clearing standardised OTC derivatives is a pillar of the G20 Leaders’ commitment to reform OTC derivatives markets in response to the global financial crisis.A number of post-crisis reforms are, according to a statement obtained from IOSCO, directly or indirectly,…

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Cryptocurrencies and their place in mainstream finance

Cryptocurrencies are now irrefutably part of mainstream finance. They are capturing our focus more than ever before during a time when financial technology is taking centre stage. Major digital currencies such as Bitcoin, Ethereum, XRP, Lite and Dash are being thrust into the world of mainstream finance at lightning speed. Only last month, the Financial Stability Board (FSB), the international watchdog, published a report that concluded Bitcoin and other cryptocurrencies currently pose no risk to the global financial system. This…

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For sustainable development, put foreign direct investments on the G20 agenda | Opinion | Eco-Business

While much of the world’s attention is focused on the economic damage being wrought by US President Donald Trump’s trade wars, global trade’s twin – foreign direct investment (FDI) – has largely been neglected. And yet, with FDI flows valued at $1.43 trillion in 2017 – on top of the $28 trillion already invested – how these flows are managed matters. International investment has become an important source of external finance for many countries; for developing economies, in particular, FDI can…

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Ivanka Trump drew media praise – Until she and her father got new jobs

Before her father became president, Ivanka Trump received overwhelmingly positive coverage in the media as a successful business executive who combined career, marriage and motherhood. There were complimentary stories about her in Marie Claire, Forbes, Vogue and other publications, including articles headlined: “Thank God: Ivanka Trump Is Redefining the Idea of the ‘Working Woman’;” “Ivanka Trump Celebrates #WomenWhoWork with a Bold New Business Venture;” and “Ivanka Trump knows what it means to be a Modern Millennial.” In 2014, Ivanka Trump…

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Trump might devalue dollar as weapon in trade war, JPMorgan economist says

With the US waging a trade war on several fronts, economists are starting to take seriously the idea that US President Donald Trump could act on his preference for a weak dollar. “While not our base case scenario, we cannot rule out a turn toward a more interventionist currency policy, particularly since the current administration has, at times, hinted at a preference for dollar weakness or objected to perceived Chinese currency manipulation,” Michael Feroli, JPMorgan Chase & Co’s chief US…

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Is Japan Finally Turning Away From Coal?

Sumitomo Mitsui Trust Bank and Nippon Life start the race to move beyond coal in Asia. By Marie Tanao for The Diplomat July 28, 2018 Japan has a coal problem. The country’s dependence on fossil fuels has been growing since the March 2011 Great East Japan Earthquake and consequential Fukushima Daiichi nuclear disaster, which led to understandable widespread public opposition to nuclear energy. However, rather than taking the opportunity to set the course for a swift transition to renewable energy,…

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U.S. Treasury proposes tax rules on pass-through businesses

WASHINGTON (Reuters) – The U.S. Treasury on Wednesday proposed tax regulations for a new 20 percent income tax deduction for owners of businesses organized as pass-through entities, including rules to prevent the measure from becoming a tax loophole for wealthy Americans. FILE PHOTO: U.S. Secretary of the Treasury Steven Mnuchin arrives for a news conference at the G20 Meeting of Finance Ministers in Buenos Aires, Argentina, July 22, 2018. REUTERS/Marcos BrindicciREUTERS/ /File Photo Senior Treasury officials said the regulations are…

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Put FDI on G20 agenda for sustainable growth

WHILE much of the world’s attention is focused on the economic damage being wrought by US President Donald Trump’s trade wars, global trade’s twin — foreign direct investment — has largely been neglected. And yet, with FDI flows valued at US$1.43 trillion in 2017 — on top of the US$28 trillion already invested — how these flows are managed matters. International investment has become an important source of external finance for many countries; for developing economies, in particular, FDI can…

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