<p style="margin: 0px; text-align: justify;"><span style="color: #222222;">The UAE delegation recently attended the second meeting of the International Financial Architecture Working Group (IFA WG) within the G20 Finance Track for 2023. The meeting, which took place in Paris, France, on March 30th and 31st, brought together representatives from G20 members, invited countries, and international organisations to discuss the progress of the IFA WG work plan for 2023.</span></p>''<p style="margin: 0px; text-align: justify;"><br />''</p>''<p style="margin: 0px; text-align: justify;"><span style="color: #222222;">The discussions focused on various topics, including the sustainability of sovereign debt and ways to limit its increase, proposals and directions to support vulnerable countries, and ongoing work by Multinational Development Banks on the implementation of recommendations by the Independent Review on Multinational Development Banks' Capital Adequacy Frameworks. Additionally, the members shared their views on the impact of climate change-related policies on capital flows.</span></p>''<p style="margin: 0px; text-align: justify;"><br />''</p>''<p style="margin: 0px; text-align: justify;"><span style="color: #222222;">The UAE delegation, represented by Ahmad bin Sulaiman and Khalifa Al Faheem, emphasized the importance of collaborating with regional organizations to leverage their expertise in formulating initiatives that promote global debt sustainability. They also highlighted the need for providing incentives for debt transparency to encourage the adoption of enhanced debt management practices in vulnerable countries. The UAE team also suggested developing tools and methodologies to track the impact of climate change policies on capital flow.</span></p>''<p style="margin: 0px; text-align: justify;"><br />''</p>''<p style="margin: 0px; text-align: justify;"><span style="color: #222222;">The members agreed to review the progress of the IFA WG work plan during the next meeting, which will be scheduled by the India G20 presidency.</span></p>