UAE participates in the Third G20 Finance Ministers and Central Bank Governors Meeting

UAE participates in the Third G20 Finance Ministers and Central Bank Governors Meeting

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, headed the UAE delegation participating in the third G20 Finance Ministers and Central Bank Governors (FMCBG) meeting from 16th to 18th July in Gandhinagar, Gujarat. The meeting discussed the progress made under the G20 priorities set by the Indian presidency for the year 2023. During the meeting, Mohamed Al Hussaini reiterated the need to remain cautious regarding the ongoing economic uncertainty and the uneven levels of global economic growth. He highlighted that this requires continued global collaboration through the G20 to promote food and energy security, and the prioritization of policy making to address investment-for-development challenges and to set the stage of the future of the multilateral trade system by developing solutions for economic and development challenges. Regarding climate change, he lauded the G20 and COP28 collaboration on this global priority. He said: “We commend the Group’s dedicated efforts to explore the macroeconomic risks arising from climate change, which were collated from the valuable insights of the Joint G20-COP28 Panel Discussion.” Regarding the ongoing finance and health collaboration, His Excellency Al Hussaini emphasized the importance of considering existing financing solutions, such as The Pandemic Fund at G20, that aim