Following their recent summit in Hamburg, the G20 leaders have adopted the official G20 communiqué and other declarations and documents. The "G20 Hamburg Action Plan" summarises the outcomes and measures in the area of finance under the German G20 presidency.
Bundesbank President Jens Weidmann sees the development of local bond markets in African countries as an important step in improving the financing conditions for investment. "Domestic debt markets are the primary way to raise private funds for investment," explained Mr Weidmann at a G20 conference in Berlin.
"Domestic debt markets are the primary way to raise private funds for investment,"
The finance ministers and central bank governors of the G20 countries met in Washington to continue their discussions on core issues of the German G20 presidency. Besides global economic growth prospects, the main focus was on financial market regulation and the further development of global economic and financial governance.
G20 finance ministers and central bank governors reaffirm their commitment to international economic and financial cooperation at their two-day meeting in Baden-Baden.
The Financial Stability Board (FSB) has published a consultation paper for a framework to evaluate the financial regulatory reforms initiated in the wake of the financial crisis. Once the public consultation has closed on 11 May, the framework will be published in the run-up to the G20 Leaders’ Summit in Hamburg.
Speaking in Frankfurt, Bundesbank President Jens Weidmann underscored the importance of the G20 for international free trade and for progress in financial market regulation. In times like these, international cooperation is particularly important, he said, which is why the G20 is a "precious treasure".
Bundesbank President Jens Weidmann says that a uniform set of rules is needed to regulate financial technology start-ups. "It would be wrong for fintechs to base their business models on regulatory loopholes," he said at a conference during Germany's G20 presidency. Federal Finance Minister Dr Wolfgang Schäuble and Queen Máxima of the Netherlands highlighted the opportunities that digitalisation holds in store for developing countries.
"It would be wrong for fintechs to base their business models on regulatory loopholes,"
Federal Finance Minister Wolfgang Schäuble and Bundesbank President Jens Weidmann today kicked off Germany's G20 presidency in Berlin. In their remarks, each underlined the importance of open markets for the global economy.
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G20-conference in Baden-Baden
G20-conference "Digitising finance, financial inclusion and financial literacy"
Meeting of the G20 deputies