Brazil's Central Bank President Roberto Campos Neto speaks during the opening of the G20 Finance Ministers and Central Banks Governors meeting, in Sao Paulo, Brazil, on Feb 28, 2024.
"We're arriving in July aware that we need to close deals. October will be completely overshadowed by the U.S. election," said one of the Brazilian officials, who requested anonymity so he could speak openly. Brazil has won backing for the idea from Belgium, Colombia, France and Spain, as well as the African Union and South Africa, which will assume the G20 presidency next year.
US Treasury Secretary Janet Yellen baulked at the idea of internationally redistributing revenue from a global wealth tax.
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