Finally, we reaffirm our commitment to implementing an international taxation system that supports the full implementation of the Asia Initiative Declaration/Bali Declaration on International Taxation.
Washington D.C., U.S. (ANTARA) - The 4th Finance Ministers and Central Bank Governors (FMCBG) meeting participants spotlighted the importance of continuing to maintain the G20 as the primary global economic cooperation platform, Indonesian Finance Minister Sri Mulyani Indrawati stated.

"This meeting is very crucial for the G20’s credibility," the minister remarked while delivering the results of the 4th FMCBG meeting here on Thursday afternoon local time.

The FMCBG meeting is organized by Indonesia’s 2022 G20 Presidency under the Finance Track to discuss various global economic finance issues.

The minister stated that several agreements reached at the meeting were the importance of strengthening harmony policy coordination to enhance global economic stability and prosperity that includes food and energy security.


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The FMCBG meeting also agreed to bolster commitments to creating a resilient financial system in the international financial architecture, she noted.

"The commitments include (enhancing) the Global Financial Safety Net, allocating the Special Drawing Right (SDR) to support vulnerable (countries), as well as strengthening the capital of the Multilateral Development Bank (MDB) while ensuring the implementation of a common framework for debt treatment beyond the DSSI (Debt Service Suspension Initiative)," she remarked.

Furthermore, the meeting highlighted the progress in the implementation of the regulations and supervision of several financial sector issues, including the crypto market assets, inclusive economic sustainability, and digital financial literacy.

Participants of the activity also reaffirmed their commitment for the 2022 Sustainable Finance Report that discusses a financial transition framework to support climate mitigation attempts, including the implementation of green energy and economic transition to bolster accessibility and affordability of sustainable finance.


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In addition, the meeting underlined the sustainable, inclusive, and affordable revitalization of infrastructure investment by strengthening the participation of the private sector; mobilizing financing tools in the regions; as well as increasing investment in digital, Infratech, along with sustainable and transformative infrastructure.

"Finally, we reaffirm our commitment to implementing an international taxation system that supports the full implementation of the Asia Initiative Declaration/Bali Declaration on International Taxation," Indrawati added.

Earlier, the first 2022 G20 FMCBG meeting took place in February 2022 in Jakarta; the second meeting was held in April 2022 in Washington D.C., the United States; while the third one was organized in July 2022 in Nusa Dua, Bali Province.


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Translator: Satyagraha, Uyu Liman
Editor: Fardah Assegaf
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