UAE Engages In 3rd G20 Finance Ministers And Central Bank Governors Meeting To Enhance Global Economic Stability

The UAE, represented by its Ministry of Finance and the Central Bank, is actively participating in the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting. This third meeting, under South Africa's presidency for 2025, took place in Durban. It gathered representatives from G20 member states, invited countries, and international organisations to discuss global economic issues.

Mohamed bin Hadi Al Hussaini led the UAE delegation. The team included Younis Haji AlKhoori, Ebrahim Obaid Al Zaabi, and Ali Abdullah Sharafi. Their participation aimed to support global objectives and contribute to developing international economic policies. The discussions covered various topics such as macroeconomic outlooks, financial architecture, infrastructure development, international taxation, and sustainable finance.

Al Hussaini emphasised that the meeting offered a strategic platform for enhancing international coordination on economic issues. He highlighted the UAE’s commitment to strengthening the international finance structure and supporting emerging markets. This involves reducing investment risks, mobilising private capital, and advancing structural reforms to enhance global financial stability.

The UAE contributed to the official communiqué through working group comments and Deputy-level drafting meetings. The discussions also addressed impediments to growth in Africa, financial sector issues, and financial inclusion. Al Hussaini stressed the importance of effective policies for macroeconomic stability, including fiscal support and improved labour market efficiency.

Al Hussaini welcomed progress on international tax reform via the BEPS Action Plan. He highlighted the UAE’s role in building fair tax systems through involvement in the UN Framework Convention on International Tax Cooperation. He also underscored boosting private sector participation in infrastructure as a key policy priority for growth in Africa.

The UAE continues to pursue proactive financial policies that reinforce long-term sustainable development. Al Hussaini noted that policy coherence and reliable climate data are crucial for overcoming barriers to sustainable finance. The UAE's experience includes addressing insurance protection gaps through climate risk assessments.

Engagement in G20 Activities

The UAE attended G20 Finance and Central Bank Deputies meetings from 14-16 July alongside FMCBG meetings. Discussions included multilateral development bank developments, pandemic response financing, growth in Africa, and additional communiqué drafting sessions. This marks the UAE’s sixth participation in the G20 Summit process.

The country has previously participated as a guest at summits hosted by France (2011), Saudi Arabia (2020), Indonesia (2022), India (2023), and Brazil (2024). The G20 activities will conclude with a Leaders’ Summit later this year.

With inputs from WAM