Hong Nam-ki Attends G20 Finance Ministers Meeting... Discusses Inflation and Supply Chain Issues

Held in Jakarta, Indonesia on the 17th-18th... Deputy Prime Minister Hong to Attend Remotely

[Asia Economy Sejong=Reporter Kwon Haeyoung] Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki will attend the Group of Twenty (G20) Finance Ministers' Meeting to discuss economic issues such as inflation and supply chain disruptions.

According to the Ministry of Economy and Finance on the 16th, Deputy Prime Minister Hong will participate virtually in the G20 Finance Ministers and Central Bank Governors Meeting held in Jakarta, Indonesia, for two days starting on the 17th.

This meeting, hosted for the first time by Indonesia, the G20 chair country this year, will be held under the 2022 G20 slogan "Recover Together, Recover Stronger" and divided into six sessions: global economy and health, international financial system, financial issues, sustainable finance, infrastructure, and international taxation.

Deputy Prime Minister Hong is expected to address the management and importance of inflation and supply chain disruptions, which have recently emerged as major global economic risks, and offer suggestions on macroeconomic policy coordination and supply chain restructuring directions. He will also urge policy cooperation to support low-income countries through debt restructuring and to mitigate capital flow volatility for a stable and resilient international financial system.

Furthermore, he plans to propose expanding private sector participation in sustainable infrastructure investment, bridging the digital divide in response to digitalization, prompt agreement on Pillar 1 issues of the digital tax and follow-up measures for smooth implementation, and inter-agency cooperation for transitioning to a low-carbon economy.

This year, four G20 Finance Ministers' meetings are scheduled, including this one, and the G20 Summit will be held in Bali, Indonesia, in November.

This content was produced with the assistance of AI translation services.