Brazil takes advantage of G20 to project itself into a meeting in the USA – 04/14/2024 – Market

Taking advantage of the prominent position conferred by the presidency of the G20, a delegation led by minister Fernando Haddad travels to Washington (USA) this week to promote the Brazilian agenda during the annual meeting of the World Bank and the IMF (International Monetary Fund), which takes place on Monday (15) to Friday (19).

“Brazil is a very active part of the dialogue we have”, said the president of the World Bank, Ajay Banga, to journalists last Thursday (11) after being asked about the country’s involvement in this week’s agenda.

“Brazil is involved in the full range of climate issues, not just related to mitigation or adaptation, but also related to soil, biodiversity, nature. This is the nature of its ambition during its G20 presidency and the upcoming COP in which they will have the chance to work”, he added.

Banga also praised what he sees as the country’s “game-changing” green growth plan and focus on combating hunger and poverty.

Haddad will be accompanied by secretaries, such as Guilherme Mello (economic policy) and Tatiana Rosito (international affairs), and by the president of the Central Bank, Roberto Campos Neto.

In parallel to the so-called spring meetings of multilateral banks, a new meeting of the G20 finance area is also taking place.

The group will meet first for a dinner on Wednesday (17), at which economist Esther Duflo, winner of the Nobel Prize in the field in 2019, will give a talk on sustainable finance at the invitation of Brazil.

The following day, the bloc’s finance ministers, accompanied by the heads of central banks, meet to discuss reforming the governance of the international financial system. Making it more representative of today’s world, with greater weight for emerging countries, and improving its financing capacity in the face of challenges such as the climate crisis and hunger, are among the priorities of the Brazilian presidency.

However, as in the previous meeting, held in São Paulo, the release of a joint statement is not expected.

Haddad also participates in an event on Tuesday (16) on sustainable finance at the Wilson Center’s Instituto Brasil, co-organized by Fazenda and Instituto Clima e Sociedade. The Brazilian ambassador to the USA, Maria Luiza Viotti, opens the door.

On the evening of the same day, the head of Finance meets fellow Brazilian Ilan Goldfajn, currently president of the IDB (Inter-American Development Bank), for a conversation about investments in Latin America and economic reforms in Brazil.

The following day, the minister joins a panel with Samantha Power, head of USAID (American agency for international development) and representatives from the African Union, Norway, South Africa and the World Bank.

Next, Haddad participates in a G20-sponsored event on taxing the super-rich, alongside representatives from Kenya and the IMF. According to the Treasury, the purpose of the meeting, promoted in partnership with France, is to show that Brazil’s proposal is being endorsed by other countries.

The third event of the day is a round table on the debt situation of emerging countries.

There is also a plan for a press conference with Duflo and economists Joseph Stiglitz and Gabriel Zucman on the Brazilian proposals for the G20 financial track.

The bilateral agenda includes meetings with China’s Finance Minister, Lan Fo’an, and the European Commissioner for Economic Affairs, Paolo Gentiloni.