Focus on global economic outlook and key growth areas at 2nd G20 Framework Working Group in Chennai

The Second G20 Framework Working Group (FWG) meeting is currently underway in the vibrant city of Chennai, Tamil Nadu.

The event, which is being held under India's G20 Presidency, has brought together over 80 delegates from G20 member countries, invitee countries, and various International and regional Organizations to discuss strategies for inclusive development, especially in emerging economies.

The Framework Working Group focuses on global macroeconomic issues, and under India's 2023 G20 Presidency, the Group is focusing on the macroeconomic impacts of food and energy insecurity, climate change, and transition pathways.

“In the Chennai meeting of the FWG, the members will focus on sharing policy experiences on these issues and discuss the way ahead on how FWG discussions can inform the G20 Finance Ministers and Central Bank Governors who will be meeting in Washington D.C on April 12-13, 2023,” an official G20 India press release said.

The first day of the meeting delved into discussions concerning the current Global Economic Outlook, with a focus on the macroeconomic implications of food and energy insecurity. The session also highlighted the need to identify its macroeconomic implications and key areas for growth.

During the deliberations, the delegates also exchanged views and experiences on the key forces that are shaping the evolving economic landscape, deliberating on macroeconomic policy issues and their risks.

Day 2 will see delegates discussing the macroeconomic impacts of climate change and transition pathways.

Chief Economic Advisor V Anantha Nageswaran held a media briefing before the discussions began, focusing on the current global economic outlook and the macroeconomic implications of food and energy insecurity.

The event is being jointly co-chaired by the Chief Economic Adviser, Ministry of Finance, Government of India, V Anantha Nageswaran, and Chief Economic Adviser, UK Treasury Clare Lombardelli.

The delegates will also be hosted for 'Ratri Bhoj Par Samvad' (Conversation over Dinner), providing an opportunity to enjoy the rich cultural heritage and diverse cuisine of Tamil Nadu.

On the sidelines of the G20 FWG meeting, a panel discussion on “Macroeconomic impacts of climate change and transition pathways” will be held on Saturday, in collaboration with the UAE who will be holding the COP-28 Presidency.