Inequalities, climate and global economy are topics of G20 WG meeting

The Global Economy WG addresses structural economic issues and will hold a technical meeting to discuss the link between macroeconomics, inequalities and climate change. The meeting will take place in Brasilia via videoconference and will be attended by representatives from all member countries

Bringing inequality to the forefront of global economic discussions. This is the aim of the G20 Global Economy Working Group, which will meet on January 17 and 18 via videoconference in Brasilia. The meeting kicks off the meetings of the WGs of the Finance Track with the participation of technicians from the Ministries of Finance and Central Banks discussing the global economic landscape and how to materialize the Brazilian presidency's priorities in the forum's debates.

The Global Economy WG is jointly coordinated by the Ministry of Finance and the Central Bank of Brazil. During Brazil's presidency, inequality is the main topic of the work plan, which is divided into four priorities based on Brazil's agenda.

The WG's first priority is to bring the issue of inequality to a high-level debate in the forum of the world's largest economies, so that it can be analyzed from a macroeconomic point of view and not as a matter for individual countries. "The big message is that inequality is a structural macroeconomic issue, which can benefit from being discussed multilaterally rather than just locally," explained the coordinator of the WG for the Brazilian Ministry of Finance, Keiti Rocha Gomes.

According to Rocha Gomes, the G20's work also focuses on addressing inequalities through public policies for a just sustainable transition; creating fiscal spaces to support public investment and boost private financing for socio-economic development; and including inequalities and climate issues in actions to monitor risks to global stability, which is a structural topic of the G20.

Global Economy WG

Originally called the Framework Working Group (FWG), the WG deals with the structural issues that drove the creation of the G20 and aims to anticipate economic crises, their impacts and seek possibilities for dealing with scenarios that threaten global stability. By presenting the reduction of inequalities as an objective of the Brazilian presidency of the forum, Brazil is pointing to new possibilities for the debates of the member countries during 2024.

The next meetings of the working group are scheduled for March, April, June and September.