Furthermore, the strengthening of the international financial architecture has been going forward and major progress has been achieved with regard to the efficiency of multilateral development banks. Impetus has also been given to a further strengthening of donor and recipient countries’ responsibilities in order to prevent a debt crisis in the poorest countries and to foster the resilience of capital markets by introducing new instruments, such as GDP-linked bonds. The clear commitment of all G20 members to fully and timely implement the agreed reforms in the area of financial market regulation proves the success of this presidency. In Washington, D.C. issues such as tax policy, remittances and cyber security will also be discussed during the finance ministers and central bank governors meeting. The FSB will be assigned to analyse the existing rules for cyber security in all G20 countries and relevant international organisations and a first report on the Compact with Africa investment initiative that was launched in June under the German presidency in the finance track will be presented.
Last G20 Finance Ministers Meeting under German Presidency
The finance ministers and central bank governors of the G20 will come together for their last meeting under German presidency in Washington, D.C. on 12 and 13 Octobre 2017. Germany has managed to anchor the resilience of the G20 economies and thus has given impetus for structural reforms and debt reduction during its G20 presidency.