S.Korea President Yoon set to leave for Peru to attend APEC summit
Yoon will travel to Peru from Thursday to Friday for the APEC summit and head to Brazil on Sunday for the G20 summit slated for the next two days, Yonhap news agency reported.
At the fourth and final G20 finance ministers and central bank governors (FMCBGs) meeting, leaders unanimously adopted the communiqué that draws guidance from the G20 New Delhi Leaders’ Declaration (NDLD) and benefited significantly from the consensus that was reached at the leaders’ summit.
The meeting took place on October 12-13, 2023, at Marrakech, Morocco, on the sidelines of the International Monetary Fund-World Bank annual meetings.
The FMCBG communiqué has welcomed the Report of the G20 Independent Expert Group on Strengthening MDBs. FMCBGs have noted the need for transformative changes required in MDBs’ vision, operating models, and financing capacities.
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Three building blocks for consideration
At the meeting, the FMCBGs urged three building blocks for consideration. These are private capital mobilisation, strengthening their financial capacity including implementation of capital adequacy framework recommendations and capital increase, and urging MDBs to work together as a system.
Going forward, they have called for continued work on the recommendations of the report for building better, bigger, and more effective MDBs.
FMCBGs also adopted the G20 roadmap on crypto assets.
This detailed and action-oriented roadmap will help coordinate global policy as well as develop mitigating strategies and regulations on crypto assets while also taking into consideration the specific implications on emerging markets and developing economies (EMDEs), the finance ministry said in a statement.
The communiqué reflects the outcomes from the various G20 finance track workstreams that were completed after the July FMCBG meeting and the G20 New Delhi Leaders’ Summit.
It further welcomed the upcoming Brazilian presidency of the G20 and looked forward to continued work on enhancing global economic cooperation to achieve strong, sustainable, balanced and inclusive growth.
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