Financing Growth & Infrastructure: G20 Goals
The German government aims to further develop financial markets. One step will be to continue the work begun on better monitoring and regulation of the international financial markets and on setting international standards. The G20 presidency emphasizes also the need to appropriately monitor and sufficiently regulate market-based financing reforms (including shadow banking activities), in order to identify the rise of potential financial stability risks.
Activity on Green Finance, launched under G20 Chinese Presidency, remains on the agenda with the aim to make environmental risks more transparent and further reduce it. Another important topic will be to enhance financial inclusion to offer to all households and companies appropriate access to financial services. The German presidency also aims to make taxation fair and reliable internationally, by continuing the G20 Tax Agenda, above all regarding the implementation of BEPS. An important priority is also to seize the opportunity of digital technology, while being conscious of the risks that can arise from them. According to the German presidency, modern technologies offer significant opportunities in the financial sector through automation and lower costs.
Finally, intensifying the partnership with Africa, is an additional focused by the German presidency in order to increase the contribution to sustainable economic growth and stability. Cooperation with interested African partner countries will strengthen the frameworks for sustainable private sector investments and investments in infrastructure and renewable energies.
The Finance Ministers and Central Bank Governors will meet twice in the next months, at first in in Baden-Baden on 17/18 March 2017 and in Washington at the IMF/Worldbank Spring Meeting on 20/21 April 2017.