POLICY MAKERS=G20 SUMMIT

POLICY MAKERS=G20 SUMMIT
G20 is the annual meet by the top 20 economically rich countries (having 80% total trade volume & 2/3 of population)at global platform to discuss about economic reforms and financially stability and sustainability which is based upon the higher investment ,trust & transparency and on regulation of market polices and practice.
Main motive is to strengthen the growth(growth in a sustainable way =debt free growth) and Development which is implemented through St Petersburg Action Plan= strategies to achieve strong, sustainable and balanced growth and boost economic activities, support the recovery and address near-term risks to the outlook.
MAJOR CHALLENGES IN GLOBAL ECONOMIC-

* Fiscal unsustainability.

* Unemployment and underemployment particular among the young people.

* Cross border tax evasion & erosion due to corruption.

* Inclusive growth=0

* Financial market fragmentation in Europe=impact on money outflow. (in case of developing countries it cause financial tightening ,volatile money outflow ,commodity price volatility)

* Monetary policy stability (as in recent cases due to federal reserve of USA ,monetary policy tighten suddenly causes Rupee depreciation in India).

* Incomplete rebalancing of global demand.

* Insufficient levels of private investment in many countries due to continuing market uncertainties, as well as internal rigidities.
G20 MEETINGS AND THEIR CONCLUSION-

2008- Washington DC(1st meeting)
* provide liquidity, strengthen the capital of financial institutions.
* short-term liquidity facility.
* Promoting Integrity in Financial Markets.
* Reinforcing International Cooperation & Financial Institutions.
* reducing systemic risks in credit derivatives markets.

2009-London
* restore confidence, growth, and jobs.
* repair the financial system to restore lending.
* strengthen financial regulation to rebuild trust.
* reform our international financial institutions to overcome crisis.

2009: Pittsburgh
* Framework for Strong, Sustainable, and Balanced Growth.
* Strengthening the International Financial Regulatory System.
* Reforming in Mission and Governance of the IMF.

2010: Toronto
* Financial Sector Reform.
* International Financial Institutions and Development.
* Fighting Protectionism and Promoting Trade and Investment.
* Capital and Liquidity.
* Financial Market Infrastructure and Scope of Regulation.

2010: Seoul
* Seoul Development Consensus for Shared Growth.
* Fossil Fuel Price Volatility.
* G20 Anti-Corruption Action Plan.
* Multi-Year Action Plan on Development Infrastructure.
* Private Investment and Job Creation assures for regional integration.

2011: Cannes
* Strengthening IMF surveillance.
* Implementing and deepening Financial sector reforms.
* Cannes Action Plan for Jobs and Growth.
* Strengthening the Medium-Term Foundations for Growth.

2012:Los Cabos, Mexico
* green infrastructure, energy and water efficiency.
* financing the fight against climate change.
* Decentralized Wastewater Treatment Plant.


2014 G20 SUMMIT-HOSTED IN TROIKA & AUSTRALIA WILL CHAIR THE G20.


2013 St.Petersburg-IMPLEMENTATION & CONCLUSION .. in detail..


MAJOR IMPLEMENTATION DURING 8TH G20 SUMMIT 2013-
1.GROWTH THROUGH JOBS(in case of INDIA ,JOBS instead of quality jobs is worth ..:D)-
Major contribution of the B20 and the L20.(B20 is the business community for shares in investments and creating new jobs.)

* Improve business environment and stimulate the creation of more jobs.

* To make targeted reforms in product and labour market.

* Government initiatives and policies-(through financial investment & coordination) RECENTLY ministry of labour and employment & ministry of finance came upon to share a platform to make new reforms and create more and more sustainable jobs & growth.

* Improve job quality=working conditions, wage bargaining frameworks through national wage-setting systems, and access to social protection.

* Integrating the national policies => create quality growth through the higher production.

* G20 Task Force on Employment- ways to address labour market and employment challenges & source of information for the economic analyses.
2.FINANCING FOR INVESTMENT=GROWTH RATE INCREASE

* Long term investment=>sustainable growth=>job creation.

* Follow work plan prepared by G20 study group for well-founded, evidence-based policy initiatives.

* Government to promote policies(prudent risk-taking) => promote & encourage institutional investors to finance long term investment.

* Project preparation funds-transparency in the prioritization, planning, and funding of investment projects, especially in infrastructure.

* Public private partnership.

3.ENHANCING MULTILATERAL TRADE=

* Free trade and investment(i.e transparent through WTO)=restoring global growth & sustainable development.(until the end of 2016-being fully committed to further progress in removing barriers and impediments to global trade and investment & to roll back new protectionist measures.) SUCCESSFUL OUTCOMES -

WTO Ministerial Conference (MC9) In Bali
* trade facilitation
* elements of agriculture and development issues

Doha Development Agenda negotiations In Doha
* new confidence in successful post-Bali Doha round negotiations.


* Regional trade agreements(RTAs)=advancing towards more transparency in multilateral trade.

* Transparency in Trade (TNT)= which will provide for open use of the trade policy data and analysis system to identify new trade opportunities and facilitate trade flows.
PARTNERS ARE=


* Global Value Chains (Gvcs)= GVCs for growth, industrial structure, development and job creation.


4.HANDLE TAX AVOIDANCE=Promote Transparency

* G20/OECD BEPS project- Reduce artificially shifting profits to low-tax jurisdictions.

* Multilateral and bilateral exchange of information.

* The Development Working Group in conjunction with the Finance Track.
5. INTERNATIONAL FINANCIAL ARCHITECTURE-

* ratification of the 2010 IMF Quota and Governance Reform

* IMF-RFA cooperation(International Mutual Funds Regional Financing Arrangement)=>Financial Ministry and Central Banks to follow such norms.

* Public Debt Management-need for raising, managing, and retiring public debt, including on state guarantees.

* IMF-World Bank Debt Sustainability =Framework for Low-Income Countries=> promote sustainable financing and sustainable growth and development through appropriate channels.

* local currency bond markets (LCBMs).
6. Promoting Development=adopted at Seoul Multi-Year Action Plan on Development (MYAP) in 2010

* strong, sustainable, inclusive and resilient growth and narrowing the development gap.

1. Food Security=>1.Secure Nutrition Knowledge Platform.
2.Food Security through Social Safety Nets & Risk Management.

* Infrastructure-Assessment of Project Preparation Facilities (PPFs) for Infrastructure in Africa.

* Financial Inclusion-Global Partnership for Financial Inclusion (GPFI) to strengthen financial inclusion.

* Human Resource Development-Global Public-Private knowledge sharing platform on skills for employment.

* Inclusive Green Growth-G20 Dialogue Platform on Inclusive Green Investments for sustainable development and poverty eradication.
Saint Petersburg Accountability Report on G20 Development Commitments= progressive achievement

NAME-ANAM SINGLA

REFERENCE - G20 LEADERS DECLARATION 2013(case study)
EUCO press report
B20G20 PARTNERSHIP FOR GROWTH AND JOBS (case study)