[Title] Annex I, Annex II and Annex III ( Chair’s Summary – 1st G20 Finance Ministers and Central Bank Governors Meeting)

The list in this Annex registers the key priorities proposed by the Brazilian G20 Presidency for each G20 workstream, building on legacy work and previous accomplishments. The Annex also recognizes essential contributions requested or expected from key International Organizations (IOs). The list is non-exhaustive and other contributions may be requested from IOs and knowledge partners in the course of 2024. We thank our valuable partners and look forward to their contributions.

FWG - Framework Working Group

Priorities:

- Putting inequality at the forefront: Responding to macroeconomic and distributional implications of emerging global trends and domestic developments pertinent to international contexts

- Assessing the distributional implications of transition policies/pathways

- Creating fiscal space to support more and better public investment while catalyzing private investment

- Monitoring of global macroeconomic risks

Key IOs invited to contribute: BIS; ECLAC; FSB; IDB; ILO; IMF; NGFS; OECD; UNCTAD; World Bank.

IFAWG - International Financial Architecture Working Group

Priorities:

- Making MDBs better, bigger, and more effective (building on the work of previous presidencies, including the G20 Independent Review of MDBs Capital Adequacy Framework - CAF, G20 CAF Roadmap on CAF implementation, and discussions on the G20 Independent Expert Group on Strengthening MDBs), while acknowledging the concluding report on the 2020 Shareholding Review of the International Bank for Reconstruction and Development (IBRD) and looking forward to the 2025 Shareholding Review.

- Making the GFSN more effective, representative, and resilient

- Addressing sovereign debt issues

- Addressing vulnerabilities emerging from the cross-border integration of payment systems

- Promoting resilient capital flows to EMDEs

Key IOs invited to contribute: ADB; AfDB; AIIB; BIS; EBRD; EIB; FATF; FSB; Heads of MDBs Group; IDB; IIF; IMF; IsDB; NDB; OECD; UNCTAD; UNDESA; World Bank.

IWG – Infrastructure Working Group

Priorities

- Financing climate-resilient infrastructure

- Linking infrastructure and poverty reduction

- Mitigating exchange rate risks in infrastructure projects.

- Building cross-border infrastructure

Key IOs invited to contribute: AIIB; EBRD; GIF; IDB; IMF; OECD; World Bank.

SFWG – Sustainable Finance Working Group

Priorities:

- Optimizing the operations of the International Environmental and Climate Funds to deliver sustainable finance

- Advancing credible, robust and just transition plans

- Analyzing implementation challenges related to sustainability reporting standards, including for SMEs and EMDEs

- Financing Nature-Based Solutions (NbS)

Key IOs invited to contribute: AIIB; BIS; ECLAC; FSB; IDB; IEA; IIF; ILO; IMF; IOSCO; OECD; UNCTAD; UNDESA; UNDP; UNEP; World Bank.

GPFI – Global Partnership for Financial Inclusion

Priorities:

- Unified and consensual concept and measurement tools of financial well-being

- Identify policy options for improving ‘last mile’ access and quality inclusion for individuals and MSMEs

- New G20 Action Plan for MSME Finance

Key IOs invited to contribute: BTCA; CGAP; IFC; OECD; UNSGSA; World Bank.

JFHTF - Joint Finance and Health Task Force

Priorities:

- Unpacking the centrality of financing initiatives designed to tackle social determinants of health

- Increasing resource mobilization to the health sector through assessing “debt-for- health” swap arrangements

- Improving the assessment of global health, and social and economic vulnerabilities and risks arising from pandemics to prioritize policy responses

Key IOs invited to contribute: UNCTAD; WHO; World Bank.

International Taxation

Priorities:

- Devising tax strategies as instruments for the reduction of inequality

- Continuing the work on the two-pillar international tax package following agreed timeline by the OECD/G20 Inclusive Framework

- Enhancing tax transparency including transparency on beneficial ownership

- Studying the intelligent and effective use of tax benefits

Key IOs invited to contribute: ECLAC; FATF; IMF; OECD; UN; UNDESA; World Bank.

Annex II

This Annex lists contributions to Financial Sector Issues

Climate-related Financial Risks

FSB – deliver a stocktaking of regulatory and supervisory initiatives associated with identification and assessment of nature-related financial risks, including to investigate the perception of central banks and supervisors regarding whether the risk of biodiversity loss is a relevant financial risk.

FSB – deliver a further report on progress in achieving consistent climate-related financial disclosures.

Digital Innovations

FSB, in collaboration with IMF, World Bank, FATF and other SSBs – work on the implementation of the G20 Roadmap on Crypto Assets and deliver the first status report on the Roadmap.

FSB – work on a report on the financial stability implications of AI.

FATF – work to accelerate global implementation of FATF standards to address money laundering, terrorist financing, and proliferation financing risks in the crypto sector; and review the impact on financial integrity of emerging technologies and innovations including tokenization and CBDCs.

FSB – deliver a report on the financial stability implications of the tokenization of assets.

BIS and CPMI – deliver a report examining the meaning of tokenization in the context of money and other assets, and how to envision a tokenized environment that builds on the best attributes of the current monetary and financial system, while discussing potential future implications.

Cross-border Payments

FSB, in collaboration with BIS CPMI and other international organizations – deliver a progress report on the G20 Roadmap for Enhancing Cross-Border Payments.

FSB – deliver a cross-border payments quantitative targets progress report.

FATF – develop and adopt updated standards for payment transparency.

FATF – work on implementation of the revised standards on Beneficial Ownership transparency for legal persons and legal arrangements, and of the strengthened rules for asset recovery.

BIS CPMI – deliver a framework on the governance and oversight of cross-border fast payment systems interlinking arrangements and to deliver recommendations for greater harmonization of application programming interfaces (APIs) used in cross-border payments.

IMF – deliver a report on the macro-financial policy implications of cross-border payment platforms.

Work post-March 2023 banking turmoil

BCBS – deliver a progress report on its follow-up work to the 2023 banking crisis.

FSB – produce a report summarizing the work on interest and liquidity risk and on depositor behavior and the role of technology and social media.

Non-Bank Financial Intermediation

FSB – deliver the final report with the recommendations to address structural vulnerabilities from liquidity mismatch in open-ended funds.

FSB – deliver the annual progress report on enhancing resilience in NBFI.

Cyber Risk

FSB – deliver the consultation report on format for incident reporting exchange (FIRE).

Financial Stability

FSB – deliver its the Annual Report to the G20 on its work to promote global financial stability.

Annex III: Reports and Documents Received

Global Economy

- IMF G20 Surveillance Note

International Taxation

- OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors

- Promotion of Inclusive and Effective International Tax Cooperation at the United Nations -

Report of the Secretary-General

- Global Tax Evasion Report 2024 - EU Tax Observatory

Financial Sector Issues

- The FSB Chair’s Letter to G20 Finance Ministers and Central Bank Governors (February 2024)

- FSB Revised Policy Recommendations to Address Structural Vulnerabilities from Liquidity Mismatch in Open-Ended Funds