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Meeting of G7 Finance Ministers and Central Bank Governors in Chantilly on 17 and 18 July DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Meeting of G7 Finance Ministers and Central Bank Governors in Chantilly on 17 and 18 July

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Meeting of G7 Finance Ministers and Central Bank Governors in Chantilly on 17 and 18 July Empty Meeting of G7 Finance Ministers and Central Bank Governors in Chantilly on 17 and 18 July

Post by claud39 on Sun Jul 14, 2019 12:52 pm

[size=30]Meeting of G7 Finance Ministers and Central Bank Governors in Chantilly on 17 and 18 July[/size]

The meeting of Finance Ministers and Governors of the G7 Central Bank will be held on 17 and 18 July in Chantilly . The last ministerial meeting of the G7 before the Biarritz Summit (August 24-26), this meeting is part of the transversal priority of the G7 presidency with the central objective of making capitalism fairer .

Meeting of G7 Finance Ministers and Central Bank Governors in Chantilly on 17 and 18 July Logo_g7-371

Summary: On the agenda of G7 Finance de Chantilly | What is the G7?  | France holds the presidency of the G7 in 2019 | In video: the stakes

On the agenda of the G7 Finances de Chantilly

Three goals: Address the risks to the global economy and the financial system, address emerging challenges in fiscal, digital and environmental issues, reduce inequities within and across countries.

Dealing with the risks to the global economy and the financial system

Responding to the risks to the global economy  : acting collectively to prevent and, where appropriate, respond to the risks that can affect global economic growth, including structurally by intensifying efforts towards globalization that ensures a level playing field competition between actors.
Enhancing cyber security in the financial sector  : Enhance international cooperation among G7 members and learn from the first G7 cross-border crisis simulation exercise, June 4-6, 2019.
Create a regulatory framework for Libra-type crypto-assets  : draw first conclusions from the progress report of the working group set up by the G7, in order to better assess the opportunities but also the risks associated with these assets, particularly in financial stability, transmission of monetary policy, consumer protection and money laundering and terrorist financing.

Responding to emerging challenges in tax, digital and environmental matters

Building a fairer international tax system  : step up the fight against tax optimization and tax havens with a G7 agreement on minimum taxation rules for companies - wherever they are based - and on the architecture of a solution to adapt the rules of international taxation to the digitization of the economy.
To understand the challenges posed by digital competition  : agree on a common understanding of the G7 countries on the challenges of competition posed by the digital economy and on possible adjustments to the regulatory framework, with the aim of maintain healthy competition, including within the new economy.
Responding to the challenge of transitioning to a sustainable and low carbon economy, in line with the Paris Climate Agreement  : increasing public and private finance for transition, by mobilizing G7 countries in the run-up to the Summit climate of 23 September 2019 and, more broadly, all actors, both private and public (international financial institutions, development banks, green funds, regulators and supervisors).

Reduce inequalities within and between countries

Continue efforts to reduce inequalities in advanced countries  : promote the exchange of good practices on equal opportunities, gender equality and pay transparency.
Intensify development efforts for the poorest countries . The goal is twofold: (i) better financing for Africa; (ii) greater digital financial inclusion of women in Africa, supporting the initiatives identified by the Gates Foundation in the report to the G7 Finance.

What is the G7?

The G7 is a forum of informal dialogue with role of orientation and political impulse between international leaders, without legal statutes, nor permanent secretariat, nor member by right.
The G7, or Group of 7, brings together Germany, Canada, the United States, France, Italy, Japan, and the United Kingdom, countries whose heads of state and government meet on the occasion of an annual summit. The European Union has also been involved in the G7 since 1977. Together they account for 40% of global GDP and 10% of the world's population.
Each year, the Presidency is held by one of the seven Member States, which provides the necessary means for the work of the group and defines the main priorities which will be at the heart of the discussions.
Born from the will to coordinate to face the first oil shock in 1973, the G7 meets every year at the level of the heads of state and government to consult on common answers in matters of peace and security, fight against the terrorism, development, education, health, environment and climate change. These topics involve the different actors and require common answers.
The G7 countries share a base of values: democracy, respect for human rights and fundamental freedoms, the free market, respect for international law.

France holds the presidency of the G7 in 2019

France holds the presidency of the G7 since 1 st January 2019 . It defines the work agenda for the whole of 2019 and takes charge of organizing the various G7 meetings at ministerial level, preparing the summit of heads of state and government in Biarritz, from 24 to 26 August 2019.
France succeeds Canada, which hosted the Summit in 2018. The United States will hold the presidency of the G7 in 2020.
(France hosted 6 G7 Summits : Rambouillet in 1975, Versailles in 1982, Paris in 1989, Lyon in 1996, Evian in 2003, Deauville in 2011).
This year, to fight against inequalities, the President of the Republic wished to change the format of the G7, by associating other major democracies (South Africa, Australia, Chile, India), African partners and actors of civil society.

Five main priorities for the French presidency of the G7:

  • Fight inequalities of destiny around the central themes of health, education and employment.
  • Preserving our planet, with a focus on preserving biodiversity, oceans and climate, through multi-stakeholder coalitions that have concrete projects that can have a quick and important impact on these challenges.
  • Promote gender equality, working for girls' access to education, combating all forms of violence and promoting women's economic empowerment and entrepreneurship, particularly in Africa.
  • Advocate for peace and against terrorist threats, particularly on the African continent, with a focus on protecting women in conflict and their participation in peace processes, and building confidence and security in cyberspace .
  • Take advantage of opportunities created by digital and artificial intelligence, by launching an "AI Expert Group" (G2IA), developing a partnership for information and democracy, and committing to an internet open, free and secure, including commitments to combat cyber-harassment and online hate and terror content, with leading digital platforms.
  • Finally, in financial matters and in a troubled economic and commercial context, the French G7 presidency is committed to ensuring greater corporate equality with respect to taxes, promoting responsible international financing rules, and competitive regulation adapted to the digital transformation.

A partnership of equals with Africa

The French presidency of the G7 is also marked by a renewed partnership with Africa , supported by work throughout the year and until the Biarritz Summit with countries that play a leading role.
The priority issue is to co-develop practical tools for sustainable economic development of the continent, focusing in particular on women's entrepreneurship, transparency and digital skills. A special effort will be made in favor of the countries of the Sahel, a region that combines several vulnerabilities.
At the request of the French G7 Presidency, the Gates Foundation produced a report on the digital financial inclusion of women in Africa, the content of which will be discussed at the G7.

A year of dialogue

During the year 2019, meetings at the ministerial level are organized to prepare the Summit of Heads of State and Government of Biarritz from 24 to 26 August 2019 :

Alongside the leaders of member countries and ministers, during the G7 year, experts meet, members of civil society engage and organize themselves into working groups.
In particular, the "Sherpas", personal diplomatic representatives of the leaders, are in contact all year long to prepare the ground by carrying the word and the objectives of their head of state or government.

In video: presentation of the stakes

Modified on 12/07/2019


Draft Agenda for the Meeting of G7 Finance Ministers and Central Bank Governors, July 17-18, 2019 [PDF; 347 KB]

# G7Finance

Read also

G7 official website - Elysee.fr
Informal Meeting of G7 Ministers - 15/05/2019
French Presidency of the G7 - February 2019

Meeting of G7 Finance Ministers and Central Bank Governors in Chantilly on 17 and 18 July PictoenVersion française: 
G7 Finance Ministers and Central Bank Governors' Meeting Chantilly, 17-18 July

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