G20 finance ministers meet to seek consensus before US election

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BRASILIA: Finance ministers and central bankers from the Group of 20 meet this week to renew efforts to reach consensus on economic policy ahead of the US election, and will avoid discussing the wars in Ukraine and Gaza to try to prevent them dominating the talks.

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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