Finance Minister Fernando Haddad is traveling next week to Bangalore, India, where he will participate in the 1st Meeting of Finance Ministers and Central Bank Governors of the G20 countries, a group of the world’s largest economies. From this event, Brazil wants to return to the international scene as an active country that offers solutions to the great world economic crises, said the Ministry of Finance.
The Ministry of Finance assesses that, just as it was decisive in resolving the 2008 financial crisis, Brazil can play an important role in the current world scenario, with economic problems that are also crossed by climate issues and the post-pandemic of covid-19 .
Still according to the ministry, the transition to a green economy, with socio-environmental sustainability, should be widely discussed in Haddad’s bilateral meetings. Meetings between the minister and the European Union (EU) Commissioner for the Economy, Paolo Gentiloni, have already been confirmed; with the Minister of Finance of South Africa, Enoch Godongwana; and with the third vice-president and Minister of Economic Affairs of Spain, Nadia Calviño.
The main agenda of the multilateral meeting, however, was defined by host India, which is chairing the G20. Among the main topics are cryptocurrency governance and international debt governance. Emerging countries have increased their indebtedness in recent years and India is seeking solutions to the issue.
For the Ministry of Finance, expectations regarding Brazil are high, given the return to the international scene and the country’s leadership in the next major summits. Brazil will preside over the G20 in 2024 and the Brics (group formed by Brazil, Russia, India, China and South Africa) in 2025. The Brazilian government also applied to host the 30th edition of the United Nations Conference of the Parties on Climate Change (COP30), in 2025.
The G20 event in India takes place from February 22nd to 25th. Haddad travels on Wednesday (22nd) and his first official appointment is the authorities reception dinner on Thursday (23rd). On Friday (24) in the morning, the two main multilateral events of the G20 take place and in the afternoon, Haddad dedicates himself to bilateral meetings. The minister is expected to return to Brazil on Saturday (25).
The president of the Central Bank, Roberto Campos Neto, is also traveling to India to participate in the G20 ministerial meeting. He gives a lecture at one of the event’s symposiums on digital public infrastructure.
