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In the midst of a commercial war, the meeting of G20 ministers starts

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Brazil's Finance Minister, Henrique Meirelles -- G20 Meeting in Buenos Aires

 

Dujovne will inaugurate the meeting, marked by recent US protectionist measures and the threat of European reprisals.

For the first time in South America, the finance ministers and presidents of the G20 Central Banks will meet today at a historic summit in Buenos Aires, in the midst of a commercial “war” over the United States’ tariff policy and the European Union’s pretension to tax the digital economy.

The conclave, of enormous global importance, will take place at the Exhibition and Convention Center, with the presence of 29 finance ministers and 20 presidents of central banks of the member countries.

The meeting of ministers is one of the activities prior to the historic summit of heads of state that will also be held in Buenos Aires at the end of November. To participate in the event, US Treasury Secretary Steven Mnuchin came to the country, in charge of defending the White House decision to apply import tariffs on steel and aluminum.

The official also warned that his country is opposed to the tax on large technology companies, such as Apple, Facebook, Amazon and Google, which the European Union intends to impose. And also in Argentina for a few days the head of the IMF, Christine Lagarde, who congratulated President Mauricio Macri for his management and will also participate in the meeting of G20 ministers. Lagarde arrived accompanied by her husband, the Marseille Xavier Giocanti,

Argentina proposed as a debate topic private participation in infrastructure projects, to boost the arrival of capital, and the future of work in an increasingly technological world. The regulation of cryptocurrencies will also be discussed, outside the control of central banks and financial organizations, due to the warning of the International Monetary Fund (IMF), which stated that without a control it can affect international finances and favor money laundering.

Also, other topics that will be analyzed are the global economy, growth, the future of work, infrastructure, financial regulation, international financial architecture, and international taxation. The Minister of Finance, Nicolás Dujovne, together with the Secretary General of the OECD, Ángel Gurría, will give a press conference on Monday at 17:00 to refer to the development of the deliberations.

Meanwhile, next Tuesday, at the end of the meeting, a final statement will be disseminated with the conclusions of the meeting and recommendations for the next summit of presidents.

For Argentina, which holds the Presidency of the G20, Dujovne and the president of the Central Bank, Federico Sturzenegger, will be in charge of leading the meeting. In addition to Mnuchin, China’s finance ministers Zhu Guangyao will participate in the summit; from Germany, Olaf Scholz; from Brazil, Henrique Meirelles; from Italy, Pietro Carlo Padoan; from Russia, Sergey Storchak; and from the United Kingdom, Philip Hammond. It will also be attended by representatives of the European Union, the World Bank, the United Nations, the Organization for Economic Cooperation and Development (OECD), the Inter-American Development Bank, the International Labor Organization (ILO),