Economy

At G20, Brazil wants to be active again in solution of global crises

Socio-environmental sustainability shall be a theme in the meetings

Andreia Verdélio – Repórter da Agência Brasil

Published on 20/02/2023 - 09:00

Brasília

O ministro da Fazenda, Fernando Haddad, participa de reunião na Federação das Indústrias do Estado de São Paulo - Fiesp. — © Rovena Rosa/Agência Brasil

Brazil’s Minister of Finance Fernando Haddad travels on Wednesday (Feb. 22) to Bangalore, India, where he will participate in the 1st Meeting of Finance Ministers and Central Bank Governors of the G20 countries, the group of the world's largest economies. At this event, Brazil wants to return to the international scene as an active country that offers solutions to major world economic crises, the Ministry of Finance stated.

The ministry believes that, just as it was decisive in solving the 2008 financial crisis, Brazil can play an important role in the current world scenario of economic and climate problems, and those caused by the COVID-19 pandemic.

The transition to a green economy, with socio-environmental sustainability, should be intensely discussed in Haddad's bilateral meetings, the ministry informed. The minister has confirmed meetings with European Union (EU) Commissioner for Economy Paolo Gentiloni, with South Africa's Finance Minister Enoch Godongwana, and with Spain's Third Vice President and Minister of Economic Affairs Nadia Calviño.

The main agenda of the multilateral meeting, however, was set by host India, which is chairing G20. Among the main topics are the governance of cryptocurrencies and the governance of international debt. Emerging countries have increased their indebtedness in recent years and India is seeking solutions to the issue.

Expectation

For the Ministry of Finance, the expectation towards Brazil is high, given its return to the international scene and the country's leadership in the next major summits. Brazil will chair the G20 in 2024 and the BRICS (group made up of Brazil, Russia, India, China and South Africa) in 2025. The Brazilian government has 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 will take place from February 22 to 25. The first official activity will be the reception dinner for authorities on Thursday (23). On Friday (24) the two main multilateral events of the G20 will take place in the morning and in the afternoon, Haddad will have bilateral meetings. The minister is expected to return to Brazil on Saturday (25).

Brazil’s Central Bank head Roberto Campos Neto will also attend the G20 ministers' meeting in India. He will deliver a lecture on public digital infrastructure, in one of the symposiums of the event.