G20 Finance Track aims to reach a consensus on documents concerning taxation, the global economy, and geopolitics

The Brazilian G20 presidency is working to approve three crucial documents during the Deputies Meeting in Rio de Janeiro. This represents an unprecedented milestone for the forum and a significant diplomatic effort by Brasil.

The Brazilian G20 presidency believes that there will be consensus on the three documents currently under discussion and development by the forum's finance ministers, deputy finance ministers and central bank vice presidents who are meeting this week in Rio de Janeiro. The documents cover themes such as taxation, the global economy, and geopolitics, with an unprecedented agreement among the member countries.

According to Ambassador Tatiana Rosito, coordinator of the G20 Finance Track, three documents are expected to be delivered to the member countries’ ministers, who will gather next Thursday, July 25: one dealing exclusively with the theme of international taxation; another about further issues related to the global economy, such as the Multilateral Development Banks reform and climate financing; and a third about geopolitics.

The ambassador recalled that at the second meeting of G20 finance deputies, held in February, the geopolitical situation posed a challenge for drafting the communication. At that time, only a summary of the meeting was agreed upon, outlining the points discussed by the representatives.

In recent months, Rosito said, the Finance Track and G20 Sherpas have met and determined that developing three consensual documents was the way forward, documents “which have been tested and agreed upon by all,” she described. “This will be the first time there will be joint declarations, an element introduced by Brasil. There has been prior experience with declarations made by development ministers,” noted Rosito, referring to the ministerial meeting held in parallel with the Finance Track meeting, also in Rio de Janeiro.