Framework Working Group (FWG)
Framework Working Group (FWG) discusses global macroeconomic issues of current relevance, monitoring of global risks and uncertainties, and possible areas of policy co-ordination aimed at promoting Strong, Sustainable, Balanced, and Inclusive Growth (SSBIG) across the G20. India and the UK co-chair this working group.
International Financial Architecture (IFA)
International Financial Architecture (IFA) Working Group deals with issues related to international financial architecture such as global financial safety net (GFSN); matters related to development finance; managing debt vulnerabilities and enhancing debt transparency; capital flow management and promoting local currency bond markets. The working group is co-chaired by South Korea and France.
Infrastructure Working Group (IWG)
Infrastructure Working Group (IWG) deliberates on various aspects of infrastructure investments including developing infrastructure as an asset class; promoting quality infrastructure investment; Infratech; and identifying innovative instruments for mobilizing financial resources for infrastructure investment. The working group is co-chaired by Australia and Brazil.
Sustainable Finance Working Group (SFWG)
Sustainable Finance Working Group (SFWG) is a newly established group under the 2021 G20 Italian Presidency co-chaired by the US and China. The working group deliberates on how to help focus the attention of the G20, international organizations and other stakeholders to key priorities of the sustainable finance agenda and form consensus on key actions to be taken.
Global Partnership for Financial Inclusion (GPFI)
Global Partnership for Financial Inclusion (GPFI) works for advancing financial inclusion globally. Some of the work areas include ways to improve financial system infrastructure, pursue policies conducive to harnessing emerging technologies, facilitating remittance flows and reducing the cost of remittance transfers, financial literacy and consumer protection, digital financial literacy and bridging the digital divide among others. The GPFI is co-chaired by Italy and Russia.
Joint Finance and Health Task Force
Joint Finance and Health Task Force was established during the G20 Rome Leaders’ Summit, 2021. The Task Force is aimed at enhancing dialogue and global cooperation on issues relating to pandemic Prevention, Preparedness and Response (PPR), promoting the exchange of experiences and best practices, developing coordination arrangements between Finance and Health Ministries, promoting collective action, assessing and addressing health emergencies with cross-border impact, and encouraging effective stewardship of resources for pandemic PPR, while adopting a One Health approach.
International Taxation agenda
International Taxation agenda in the G20 Finance Track is discussed directly at the level of the G20 Finance and Central Bank Deputies and there is no formal working group on taxation under the aegis of G20. The matters discussed under the group include addressing tax challenges arising from digitalization of the economy, fighting against tax evasion, ending bank secrecy and tax havens, exchange of information, and addressing tax avoidance by multinational corporations. The work on G20 international tax agenda is carried out in the OECD’s Inclusive Framework.
Financial Sector issues
In the G20 Finance Track, Financial Sector issues are discussed directly at the level of the G20 Finance and Central Bank Deputies. There is no formal working group on the Financial Sector Issues under the aegis of the G20 Finance Track. The Financial Stability Board provides the necessary discussion papers for facilitating the Deputies’ discussion on the G20 financial sector agenda. The key areas discussed under the financial sector issues include strengthening global financial system resilience, prudential oversight, improving risk management, establishing supervisory colleges, enhancing cross-border payments, addressing structural vulnerabilities in non-bank financial intermediation (NBFI) and climate-related financial risk, assessment of risks from crypto-assets and policy approaches among others.