Progresses on SME financing, establishment of World SME Forum to be discussed at G-20 meet
Updated: Sep 03, 2015 05:41:19pm
New Delhi, Sept 3 (KNN) Finance Ministers of G-20 countries will review the progress on SME financing and the establishment of the private sector-led World SME Forum, a new initiative to serve as a global body to drive the contributions of SMEs to growth and employment.
“Finance Ministers of G-20 countries will also review the progress on the G-20/OECD High Level Principles on SME financing and the establishment of the private sector-led World SME Forum, a new initiative to serve as a global body to drive the contributions of SMEs to growth and employment,” said an official statement.
G-20 Finance ministers will also deliberate on country specific investment strategies that identify measures to improve and promote investment in infrastructure.
During his ongoing visit to Ankara, Turkey to attend G-20 Finance Ministers and Central Bank Governors’ Meeting on 4th and 5th September 2015, the Union Finance Minister Arun Jaitley will also participate in the Joint meeting of G-20 Finance and Labour Ministers as well as in the First Meeting of the Governing Council of BRICS Contingent Reserve Arrangement (CRA).
The main purpose of these meetings is to review ongoing global economic developments, growth prospects, investment and infrastructure, international financial architecture and international tax issues among others.
The recent devaluation of major currencies followed by currency depreciations in a large number of Asian Emerging markets raises the risk of competitive devaluations. Competitive currency devaluations, at a time when global demand is sluggish, are a major threat to stability in the global economy.
The attempt in Ankara would be to analyse the situation and consider collaborative measures like developing the global safety nets to protect countries from negative spillovers arising from domestic actions.
The Joint meeting of G-20 Finance and Labour ministers will address issues of employment and growth, inequalities, declining ratio of labour income in GDP, youth unemployment and skilled labour mobility.
Jaitley will also attend the First Meeting of the Governing Council of BRICS Contingent Reserve Arrangement (CRA). CRA has been conceived as an additional safety net by the BRICS nations to meet the short-term liquidity needs that may arise in face of volatile capital flows. The total corpus of CRA is USD 100 bn. (KNN Bureau)
“Finance Ministers of G-20 countries will also review the progress on the G-20/OECD High Level Principles on SME financing and the establishment of the private sector-led World SME Forum, a new initiative to serve as a global body to drive the contributions of SMEs to growth and employment,” said an official statement.
G-20 Finance ministers will also deliberate on country specific investment strategies that identify measures to improve and promote investment in infrastructure.
During his ongoing visit to Ankara, Turkey to attend G-20 Finance Ministers and Central Bank Governors’ Meeting on 4th and 5th September 2015, the Union Finance Minister Arun Jaitley will also participate in the Joint meeting of G-20 Finance and Labour Ministers as well as in the First Meeting of the Governing Council of BRICS Contingent Reserve Arrangement (CRA).
The main purpose of these meetings is to review ongoing global economic developments, growth prospects, investment and infrastructure, international financial architecture and international tax issues among others.
The recent devaluation of major currencies followed by currency depreciations in a large number of Asian Emerging markets raises the risk of competitive devaluations. Competitive currency devaluations, at a time when global demand is sluggish, are a major threat to stability in the global economy.
The attempt in Ankara would be to analyse the situation and consider collaborative measures like developing the global safety nets to protect countries from negative spillovers arising from domestic actions.
The Joint meeting of G-20 Finance and Labour ministers will address issues of employment and growth, inequalities, declining ratio of labour income in GDP, youth unemployment and skilled labour mobility.
Jaitley will also attend the First Meeting of the Governing Council of BRICS Contingent Reserve Arrangement (CRA). CRA has been conceived as an additional safety net by the BRICS nations to meet the short-term liquidity needs that may arise in face of volatile capital flows. The total corpus of CRA is USD 100 bn. (KNN Bureau)
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