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Communiqué Annex

Finance ministers and central bank governors
March 20, 2018, Buenos Aires
[PDF]
See also Communiqué

Issues for further action

We ask the IMF, the Bank for International Settlements and the Financial Stability Board (FSB) to present to us at our meeting in April a common Report on "Financial stability risks during policy normalisation".

We ask the Framework Working Group (FWG) to develop a menu of policy options which we can draw on when responding to the impacts of technological change. It should outline options in potential policy areas relevant to the Finance Track, such as tax and transfer, public expenditure, competition and data, stressing its voluntary and forward-looking nature, and the importance of individual and evolving country circumstances.

We look forward to the convening of an infrastructure private sector advisory group which will provide technical advice on the infrastructure agenda in 2018.

We ask the IMF to continue to develop a stock-take on capital flow management measures, based on the IMF Institutional View on the Liberalization and Management of Capital Flows (IV) to help inform country actions in responding to large and volatile capital flows and to report to us at our meeting in October. We ask the IMF to prepare a note on its Institutional View in Practice, including how it has been applied since 2012, and deliver this to us at our next meeting in July.

We ask the IMF to complete and publish its macroprudential database in April.

We ask the OECD to produce a note on developments on the Code of Liberalisation of Capital Movements at our meeting in July. We ask the IMF and WBG to develop a note on existing debt transparency initiatives and deliver this to us ahead of our next meeting in July.

We ask the IMF and WBG to prepare a document on strengthening technical assistance in debt recording and reporting and deliver this to us ahead of our next meeting in July.

We ask the FSB, in consultation with other SSBs, including CPMI and IOSCO, and FATF to report in July 2018 on their work on crypto-assets.

We ask the FSB to coordinate, with the FATF, the IMF, the WBG, and the GPFI, to monitor the take-up of the recommendations in the FSB report "Stocktake of Remittance Service Providers' Access to Banking Services" of March 2018 and to report back to the G20 in July 2019.

We ask the OECD to deliver an update to us in 2019 on the progress made regarding the tax challenges of the digitalisation of the economy.

We ask the Platform for Collaboration on Tax to develop its workplan on its commitments by the IMF/WBG Annual Meetings this year and provide a progress report in 2019.

We ask the GPFI to produce, by July 2018, a Policy Guide for G20 and non-G20 countries to harness digitisation to provide financial services to unserved and underserved individuals and businesses currently operating in the informal economy.

We ask the Sustainable Finance Study Group (SFSG) to report, by July 2018, on the development and assessment of options for voluntary adoption by members to help deploy financing, including by creating sustainable assets for capital markets, developing sustainable Private Equity and Venture Capital, and exploring potential application of digital technologies to sustainable finance, taking into account countries' circumstances, priorities and needs.

We look forward to the upcoming conference on counter terrorist financing on 25-26 April in Paris.

Reports and documents received

Global economy

• Surveillance Note, IMF.
• Going for Growth, OECD.

Future of work

Future of Work – Trends, Impacts and the Case for G20 Action, G20 Presidency and Co-Chairs of the FWG.
• Technology and the Future of Work, IMF.
• Achieving Inclusive Growth in the Face of Digital Transformation and the Future of Work, OECD.

Infrastructure

• Roadmap to Infrastructure as an Asset Class, Argentina Presidency, 2018.
• G20/OECD/WBG Stocktake of Tools and Instruments Related to Infrastructure as an Asset Class Progress Report.

Financial Regulation

• Chairman's letter to G20 Finance Ministers and Central Bank Governors, FSB.
• Action Plan to Assess and Address the Decline in Correspondent Banking. Progress report to G20 Finance Ministers and Central Bank Governors meeting of March 2018, FSB.
• Stocktake of Remittance Service Providers' Access to Banking Services, FSB, March 2018.
• Progress update on cyber lexicon to G20 Finance Ministers and Central Bank Governors meeting of March 2018, FSB.

International taxation

• Secretary-General Report to Finance Ministers, OECD, Buenos Aires, Argentina, March 2018.
• Interim Report of the G20/OECD Inclusive Framework on BEPS on the Tax Challenges arising from Digitalisation, Task Force on the Digital Economy, OECD

Anti-money laundering and terrorist financing

• Report to Finance Ministers and Central Bank Governors, FATF, March 2018.

Financial inclusion

• Financing for SMEs in Sustainable Global Value Chains, GPFI.
• Policy Paper on Financial Inclusion of Forcibly Displaced Persons – Priorities for G20 Action, GPFI.

Global Infrastructure Hub

• Global Infrastructure Hub – Strategic Plan 2019 – 2022.

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Source: Official website of Argentina's 2018 G20 Presidency