MoEF, at G20 Finance Deputy Ministers' Meeting, Calls for "Establishing Efficient Fiscal Utilization Policies"

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The government announced on the 13th that Choi Ji-young, Director of International Finance at the Ministry of Economy and Finance, attended the G20 Deputy Finance Ministers Meeting and proposed guidelines for the efficient use of fiscal resources.

This Deputy Finance Ministers Meeting was the first session of 2025, held over two days from the 11th in Johannesburg, South Africa. The government dispatched Director Choi as the chief representative and proposed detailed G20 agenda items across a total of seven sessions.

Director Choi presented fiscal guidance to address downside risks to the global economy and the debt crisis. She also urged discussions on cooperation measures such as the utilization of carbon-free energy sources for optimal green transition by country, AI-centered technological innovation to enhance productivity, and bridging the digital divide.

In the International Financial System session, where she serves as co-chair of the working-level meeting, she emphasized the steady implementation and continuous development of the Multilateral Development Banks (MDB) reform roadmap. Alongside this, she called for comprehensive alternatives such as debt restructuring and liquidity support to ensure global debt sustainability.

Additionally, Director Choi participated in sessions on sustainable finance, international taxation, and infrastructure, highlighting measures to revitalize the carbon market, the importance of digital tax reform, and expanding public sector risk mitigation efforts to attract private capital.

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