G20 finance chiefs set to discuss reforms to development banks, crypto, debt

NEW DELHI — Finance ministers and central bank governors of the Group of 20 (G20) member nations are set to meet and discuss reforms to multilateral development banks, a framework for crypto assets and debt treatment of some countries, an Indian government official said Wednesday.

India, which holds this year’s G20 presidency, will host global finance chiefs and deputies in the western state of Gujarat between July 14-18.

The first volume of a report on strengthening multilateral development banks by an expert group set up under the G20 and a “guidance note” to develop a globally coordinated framework for regulation and supervision of crypto asset will be discussed, India’s economic affairs secretary Ajay Seth said in a video address.

The bloc will also discuss debt treatment of countries under the so-called Common Framework — a G20 initiative launched in 2020 to help poor countries delay debt repayments, Mr. Seth added. — Reuters