March 25, 2023 2:04 PM

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G 20 countries in 2nd Framework Working Group meeting continue their discussions on the global macro-economic issues

The G 20 countries participating in the two-day deliberations of the second Framework Working Group continue their discussions on the global macro-economic issues pertaining to inflation, energy insecurity and climate change on the second day on 25<sup>th</sup> of March 2023, Saturday. The discussions are chaired by India and the UK. The discussions are based on the presentations by the member countries followed by interactions with other countries and international organizations and representatives from Central Banks. The prevailing global conditions and the transitional pathways which need attention are being discussed in detail to prepare recommendations for further actions.<br />'' <br />''In an interaction with the media, the Chief Economic Advisor, Anantha Nageswaran said that most countries felt that financial stability risks can be handled. He told that the International Monetary Fund in its presentation on a request from India had included some important information on the availability of critical minerals and rare earths such as cobalt, copper and lithium which will be needed if we have to switch over to renewable energy. The CEA said that India will have a 6.5 percent growth in 2024 as predicted earlier.<br />''On the sidelines of the 2nd G20 FWG meeting on 25<sup>th</sup> March 2023, Saturday, a panel discussion on "Macroeconomic impact of Climate change and transition pathways" was held jointly by the G20 Indian Presidency in partnership with the UAE.<br />''<br />''It is to be noted that the UAE is holding the COP28 Presidency this year. Senior fellow at the European think-tank Bruegel Jean Pisany was the keynote speaker at the meeting. A panel discussion was held on ways to manage the spillover effects from climate policies was moderated by Prof. Amit Garg, and the panelists were from the Asian Development Bank, Bank of Italy and Shell India Markets private limited.<br />''<br />''<span style="color: #222222;">This was followed by an interactive engagement with the members.</span><br />

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