Chandigarh, Jan 30 (KNN) India is hosting the first International Financial Architecture Working Group meeting of G-20 in Chandigarh on January 30-31, 2023 which focuses on strengthening the international financial architecture.

The meeting will be inaugurated by the Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar and Food Processing Industries Minister Pashupati Kumar Paras.

It also aims to address various challenges faced by vulnerable countries and around 100 delegates from G-20 member nations, invited countries and international organizations will participate in the two-day meeting.

Discussions during the meeting will be jointly moderated by the Ministry of Finance and the Reserve Bank of India, as well as by the co-chairs of the International Financial Architecture Working Group, - France and South Korea.

The meeting will discuss ways to enhance the stability and cohesion of the international financial architecture and how to make it capable of addressing the global challenges of the 21st century.

The meeting will also focus on finding ways to maximize aid to poor and vulnerable countries.

On the sidelines of the G-20 Working Group meeting on January 30, a G-20 event titled 'Central Bank Digital Currencies (CBDCs): Opportunities and Challenges' will also be held.

The objective of the event is to share country experiences and develop a deeper understanding of the wider implications of CBDCs.

The first meeting of the G-20 Finance Ministers and Central Bank Governors is scheduled to be held in Bengaluru on February 24-25, 2023.  (KNN Bureau)