World leaders will focus on these 5 issues, not on any agreement in G20 - Newztezz Online


Tuesday, September 5, 2023

World leaders will focus on these 5 issues, not on any agreement in G20

The preparations for the G20 summit are almost complete. India's capital New Delhi will soon be converted into a cantonment. Along with this, the discussion is now taking place on what issues the world leaders will focus on in the G20 meeting. Let us know...

India is presiding over the G20 countries this year. The G20 summit is to be held in New Delhi on 9 and 10 September. Many people must be feeling that big agreements will be signed in this conference, then it will not happen. Rather, from Prime Minister Narendra Modi to US President Joe Biden, French President Emmanuel Mancra, Chinese Premier Li Qiang, world leaders from more than 20 countries will discuss 5 important issues.

These leaders representing the world's biggest economies will discuss the various challenges the world is currently facing and will talk about building a consensus. The issue of climate change has always been an important topic of discussion in the meetings of G20 countries. This time these issues are also going to be included in this conference. At the end of the conference, after a consensus is reached, all the countries will together issue a joint statement.

G20 will focus on these 5 issues

This time in the G20 countries conference, along with climate change, reforms in global financial bodies such as the World Bank and the International Monetary Fund (IMF) will be discussed. Along with this, India is also going to take forward some issues from its side. These 5 issues are important agenda of the G20 meeting.

1. Reforms in WorldBank-IMF: This time in the G20 summit, there will be discussion on making comprehensive reforms in multilateral development banks such as World Bank and IMF. India is pushing this agenda during its presidency. The reason for this is that these institutions were formed about 80 years ago after the Second World War. Since then, many changes have taken place in the world, the world order has changed, hence there is a need to strengthen these institutions according to today's geopolitical environment. Along with this, European Investment Bank, African Development Bank, Asian Development Changes are also to take place in the Bank, European Bank for Reconstruction, Inter-American Development Bank, and Asian Infrastructure Investment Bank.

2. Discussion on climate change: This time too the problem of climate change will be on the agenda at the table of G20 countries. There is a need for substantial funding and real action in this matter. G20 countries will try to emphasize on fulfilling the 'Sustainable Development Goals 2030'. According to an estimate, $ 3,000 billion will be needed every year till 2030 to meet these goals.

3. World Order on Cryptocurrency: Rules and regulations should be made for the world to reach a consensus regarding cryptocurrency. This is an important issue which India is pushing forward on different platforms. This time also during the meeting of G20 Finance Ministers and Central Bank Governors, India put forward this issue strongly. Now when the G20 summit is taking place, India is in favor of making it a part of the joint statement.

4. World Food Security: This time, world food security will also be an important topic of discussion in the G20 conference. The Russia-Ukraine war and the economic problems caused by it have increased the inflation of food grains. Along with this, due to climate change, the world is already facing a food crisis.

5. Loans to small and weak countries: Another reason for the talk of reform in global financial bodies is to improve the economic strength of weak and small countries. The debt burden on them is increasing. Therefore, this time in the conference of G20 countries, there is to be discussion on debt re-structuring, minimum global corporate tax etc.

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