Argentina seeks India’s cooperation on currency swap issues

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The second Finance and Central Bank Deputies Meeting under India’s G20 Presidency is underway in Bengaluru. The meeting began on Wednesday…reports Asian Lite News

Argentina Minister of Economy Sergio Tomas Massa on Thursday sought India’s cooperation on the issues of a currency swap and developing software for digital payments with guidance from the National Payments Corporation of India. Union Finance Minister Nirmala Sitharaman has affirmed India’s cooperation.

Union FM Sitharaman and the Argentinian Minister met ahead of the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Bengaluru, on Thursday. The Ministers exchanged views on priorities under G20 Indian Presidency with Argentinian support to India during its G20 Presidency. During the meeting, Sitharaman also stated that India would take forth the momentum created by Argentina during its Presidency on infrastructure priorities, including spending on cities of tomorrow.

Both ministers looked forward to close cooperation on India’s G20 priorities including strengthening multilateral development banks (MDBs) and climate finance.

The second Finance and Central Bank Deputies Meeting under India’s G20 Presidency is underway in Bengaluru. The meeting began on Wednesday.

The first G20 FMCBG meeting will be spread over three sessions, covering issues such as strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive, and sustainable ‘cities of tomorrow’, leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains, an official release said earlier.

Before this, the Union Finance Minister on Thursday also met Japanese counterpart Shunichi Suzuki, ahead of the first G20 Finance Minister and Central Bank Governors meeting.

According to a tweet posted by the official handle of the finance ministry, the ministers exchanged views on priorities under the G20 Finance Track 2023.

In one of the tweets, the handle also posted that “Both ministers looked forward to close cooperation between Japan as G7 Presidency and India as G20 Presidency on strengthening of multilateral development banks (MDBs), debt-related issues, financing cities of tomorrow and coordinated policy for crypto assets.”

The Japanese Minister also assured his whole-hearted support to India during the G20 India’s Presidency.

Crypto, cross-border payments on agenda at G20 meet

Road to policy for crypto assets, a symposium of digital public infrastructure, and enhancement of cross-border payment arrangements are among the agenda to be discussed today at the second Finance and Central Bank Deputies Meeting under India’s G20 Presidency which is underway in Bengaluru.

The meeting began on Wednesday. Union Minister Anurag Thakur inaugurated and addressed the inaugural session of the meeting. The First G20 Finance and Central Bank Deputies Meeting, under the Indian Presidency, too was held in Bengaluru during December 13-14, 2022.

The deputies’ meet will be followed by the first G20 Finance Ministers and Central Bank Governors meeting, scheduled to be held during February 24-25 in the same city. The meeting will be jointly chaired by Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das.

The meeting will be spread over three sessions, covering issues such as strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive, and sustainable ‘cities of tomorrow’, leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains, an official release said earlier.

The sessions will also cover issues related to the global economy, global health, and international taxation, and discussions in the G20 finance ministers and central bank governors meeting are intended to provide a clear mandate for the various workstreams of the G20 Finance Track in 2023. (ANI)

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