It is specified that the meeting participants will pay special attention to the topic of possible long-term risks for financial stability associated with the rapid development of digital currencies
The finance ministers of 22 countries and 17 central bankers of G20, which starts its work in the capital of Argentina on Monday, will traditionally discuss the key issues of the world economy, focusing on such topics as attracting private investments in infrastructure, as well as information security issues, control over crypto-currencies and the development of digital financial technologies, which were included in the agenda at the request of Germany and France.
The Russian delegation will be represented at the current meeting by the head of the Bank of Russia Elvira Nabiullina, her first deputy Ksenia Yudaeva, as well as Deputy Minister of Finance of Russia Sergey Storchak.
Cybersecurity and technology
As Storchak informed, issues of information security and development of digital financial technologies will be on the agenda of the meeting of finance ministers and heads of central banks of G20 countries. According to him, cybersecurity and digitalization of the economy, as well as the regulation of financial technologies, were put on the agenda for the first time at the ministerial level.
What you need to know about crypto-currencies
According Storchak, financial regulators are likely to agree to adhere to the current, conservative position.
The press service of the summit also said that the focus of the participants of the current meeting is possible long-term risks for financial stability related to the rapid development of digital currencies.
In addition, delegates will discuss the reduction of risks associated with the rapid development and implementation of innovations in the financial sector and their effectiveness for economic growth.
The traditional agenda
In addition to digitalization and finteh, participants in the meeting in Buenos Aires will discuss traditional issues affecting the global economy, such as the international financial system, the international tax system and financial regulation.
Priority of the current agenda selected by the Argentinean side will be the discussion of financing of infrastructure and the impact of its development on the economy and social sphere,
As the press service of the summit reports, the discussion on this issue will be held on the topic of infrastructure development, as a new asset class, which is attractive for investors. At the same time, mobilization of private investments in infrastructure increases productivity and creates more stable long-term growth.
Summit G20
The meeting of finance ministers and heads of the Central Bank will be held in Buenos Aires in preparation for the G20 summit, which will be held in the Argentine capital from November 30 to December 1. This year, the chairman of the G20 is Argentina.