G20 Finance Ministers meet in Buenos Aires

G20 Finance Ministers and Central bank Governors met in Buenos Aires, from 20 to 21 July. According to their final communiqué, global economic growth remains robust and unemployment is at a decade low, however, positive indicators are threatened by rising financial vulnerabilities, heightened trade and geopolitical tensions, global imbalances, inequality and structurally weak growth, particularly in some advanced economies. Ministers recognised the important role of international trade and investment in strengthening growth, productivity, innovation, job creation and development, while pledging to strengthen the contribution of trade to their economies. G20 Ministers endorsed the Menu of Policy Options for the Future of Work, aimed at helping countries to respond to the impacts of technological change. While recognising that crypto-assets can deliver significant benefits to the financial system and the broader economy, country representatives also highlighted that they raise issues with respect to consumer and investor protection, market integrity, tax evasion, money laundering and terrorist financing, therefore they need to be carefully monitored and multilateral responses should be introduced as needed. Ministers also endorsed the G20 Financial Inclusion Policy Guide on Digitisation and Informality, which provides voluntary policy recommendations to facilitate digital financial services.