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G20 Presidency
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g20 G20 extends debt suspension for poorest countries
In their virtual meeting in October 2020, the G20 finance ministers and central bank governors decided to extend their debt suspension for the world’s poorest country to continue supporting them during the coronavirus pandemic. They agreed, in principle, on a common framework for managing sovereign debt going forward. They also emphasised the importance of collective action to contain the virus …
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world G20 breakthrough on minimum tax
At the G20 meeting of finance ministers and central bank governors in Fukuoka (Japan) on 8 and 9 June 2019, German Finance Minister Olaf Scholz expressed his strong support for the introduction of a global minimum tax for companies. His initiative was supported by all the other G20 members. The aim is to prevent large corporations from avoiding their tax responsibilities. An agreement on this is …
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g20 Social inequality and inclusive growth
Social inequality is a central subject in debates over economic and social policy. Along with inclusive growth, it has been on the G7 and G20 agenda for a number of years. In Germany, disposable income inequality is relatively low compared with other countries, even though the country performs less well when it comes to equality of wealth. The German government supports France’s initiative to make …
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world Africa Investment Forum press release
The Africa Investment Forum took place from 7–9 November 2018 in Johannesburg, South Africa, with the German Finance Ministry represented by State Secretary Wolfgang Schmidt. The aim of the forum was to assess the impact and role of the G20 Compact with Africa (CwA) in facilitating private sector investment in Africa. A key driver in transforming Africa into a dynamic marketplace, the CwA also …
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world German government promoting private-sector development in Africa
On 30 October 2018, the heads of state and government of the African countries participating in the Compact with Africa attended a high-level conference hosted in Berlin by German Chancellor Angela Merkel. Olaf Scholz, who is advancing the initiative in cooperation with the other G20 finance ministers, welcomed the fact that German businesses are making a stronger commitment to Africa.