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Commonwealth Ministers of Finance meeting in 2019

Event: 2021 Commonwealth Finance Ministers Meeting (CFMM)

Finance ministers will meet virtually for the 2021 Commonwealth  Finance Ministers Meeting on Tuesday 12 October 2021 from 09:00hrs - 11:00 EST time / 14:00 - 16:00 UK Time.

Antigua and Barbuda will Chair this year's meeting which brings together 54 member states across six regions. CFMM provides a uniquely informal platform for open and honest dialogue among a diverse group of countries on key economic issues. 

Supporting Economic Recovery in the Commonwealth 

With 2021 having been declared a ‘year of recovery’ we envisage the focus of discussions as being on post-pandemic recovery in Commonwealth nations. These meetings are a valuable opportunity for Ministers to consider the impact on economic growth trajectories of national debt vulnerabilities, and to assess the effectiveness of global debt relief measures. In this context there will be discussion of how economic recovery can be aided by debt sustainability assessment tools including the newly devised Commonwealth Debt Sustainability Analysis Toolkit. 

There will also be consideration by Ministers of innovative financing tools such as debt-for-climate swaps and climate resilient debt instruments designed to address climate vulnerabilities and to ensure availability of fiscal resources for economic stimulus and climate action 

Commonwealth Central Bank Governors Meeting (CCBG) 

The meeting will be preceded by the Commonwealth Central Bank Governors Meeting also held virtually on 11 October from 06:30hrs – 08:30hrs EST / 11:30hrs – 13:00hrs UK Time

At their meetings in 2018 and 2019, Commonwealth Central Bank Governors discussed FinTech’s potential to support economic growth and sustainable development.  The advances in FinTech spurred on by the pandemic coupled with the need for an inclusive recovery which considers the most vulnerable and marginalised, provides an opportunity to consider a new approach to economic recovery.  

Governors will focus on the following three main topics at the 2021 CCBG:  

  • Financial Inclusion for Economic Recovery  
  • Central Bank Digital Currencies – Proposed Benefits and Challenges  
  • FinTech in The Commonwealth: Commonwealth FinTech Programme Updates  

Enquiries 

Enquiries should please be directed to Dr Ruth Kattumuri, Senior Director of the Commonwealth Secretariat Economics Youth and Sustainable Development Directorate, via [email protected] and [email protected].

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