G-20 Framework Working Group discusses global economy

Varanasi, March 30:The G-20 Framework Working Group (FWG) in its third meeting here discussed the various issues pertaining to global economy along with the agenda on inclusive growth.

The two-day meeting that concluded on Wednesday was hosted by the government and Reserve Bank of India (RBI).

"G-20 FWG discussed the current state of the global economy as well as G-20 agenda on inclusive growth and reports on strong, sustainable and balanced growth and G-20 enhanced structural reform agenda among others," the Finance Ministry said in a statement on Wednesday.

The G-20 FWG is one of the core Working Group of G-20 and deliberates on matters related to global economy and on the policy co-ordination that is required between the major economies of the world to face global economic challenges. India co-chairs this group with Canada.



"Though there has been recent positive momentum in global economic growth, the challenge is to ensure that this momentum is maintained and the benefits of growth are redistributed effectively and equitably," Dinesh Sharma, Special Secretary (Economic Affairs), Ministry of Finance, said.

Rajeswar Rao, Executive Director, RBI, congratulated the FWG for the finalisation of the note on economic resilience which details the guiding principles that members can use while formulating economically resilient macro policies.

Paul Samson, the Canadian Co-chair of G-20 FWG drew the attention of the delegates on the three core areas of the discussion in the meeting - (a) the IMF work on G-20 mandate on strong, sustainable and balanced growth; (b) the Organisation for Economic Co-operation and Development (OECD) work on G-20 structural reform agenda; and (c) G-20 agenda on inclusive growth.

The fourth meeting of G-20 FWG under the German Presidency will be held in Buenos Aires, Argentina.