‘’Poverty growth needs to be tackled with economic stability", says Rosito
The coordinator of the Finance Track talks about the progress of the Brazilian presidency in the G20. She highlights the positive reception of member countries to the Brazilian proposals for global cooperation
The ambassador and coordinator of the G20 Finance Track, Tatiana Rosito, announced on Friday (15) the positive results of the first week of meeting of the Sherpas and Finance Track, with vice ministers and vice presidents of central banks’ representatives, at the Itamaraty Palace, in Brasília (DF).
During a press conference, Rosito emphasized priority issues for the G20 agenda, outlined by the Brazilian presidency of the G20. Social inclusion, the combat against hunger and inequality, energy transition and balance in the pillars of sustainable development were the main focuses of the week's discussion. She highlighted, especially, the work of two task forces: the Task Force for the Global Alliance Against Hunger and Poverty; and the Task Force for Global Mobilization Against Climate Change.
According to Tatiana Rosito, the meeting of finance ministers and central bank presidents addressed fundamental issues such as strengthening multilateral development banks, debt solutions for poor and middle-income countries, and capital flows to emerging economies, as well as the creation of a global financial safety net.
“Overall, Brasil’s proposals were well received. There is the enthusiasm from G20 members with the first meeting held here. An agenda that addresses the correction of inequalities, which are recognized as possible causes of an exacerbation of social and even political conflicts. There is a recognition that the growth of this inequality, that the growth of poverty, needs to be attacked as a force for the stability of the global economy," related.
Private investments on the agenda
Other highlights include the search for private resources for investments in energy transition and the need to mitigate currency risks. The ambassador highlighted the importance of the financial architecture of climate funds, aiming to expand access and reduce bureaucracy.
“Other highlights include the search for private resources for investments in energy transition and the need to mitigate currency risks. The ambassador highlighted the importance of the financial architecture of climate funds, aiming to expand access and reduce bureaucracy”, assessed.
The just transition, the construction of national plans, and Brazil's leadership in the area of resilient infrastructure were also mentioned. The ambassador expressed optimism regarding the receptivity of the Brazilian proposals and highlighted the exchange of experiences in the finance and health sector.
In addition, international taxation was treated as one of Brasil's priorities. Rosito spoke of the support received for a more inclusive and progressive agenda, aligned with the interests of the Global South and developing countries.
“This has resonated a lot, both in emerging countries and in advanced economies, which are part of the G20. We left very satisfied and with a lot of support to implement an agenda that is innovative", pointed out.