... growth. This was most clearly observed in 2020, when Russia’s fiscal stimulus proved to be more moderate than in most of the G20 economies. This was replicated in 2021 as well, with further waves of the pandemic eliciting a relatively moderate fiscal ... ... growth.
The year 2021 was also emblematic for the degree to which the green/environmental agenda was embraced across the world economy, most notably in all of the main global centres – Europe, the US and China. This was the case in Russia as well, with ...
... Club Programme Director
Yaroslav Lissovolik
. Additionally, it would act as an emergency tool in easing the impact of a global crisis, such as the current COVID-19 pandemic, as it can be employed as an anti-crisis measure via the investments of the G20 states’ SWFs.
Perhaps one of the few areas where a consensus is crystallizing across the major powers of the global economy is on the urgency of advancing the green environmental agendas and reducing the carbon emissions. Global institutions such as the IMF are emphasizing the need for a green recovery to take hold in the world economy as the global community emerges ...
... years. Accordingly, the use of regional institutions in a coordinated effort to support global growth impulses enables the world economy to make use of a greater part of the Global Financial Safety Net (GFSN) that may be employed to support growth.
In fact ... ... creation of a platform for regional integration arrangements and regional institutions with a coordinating role performed by the G20. Such a platform that may be denoted R20 (regional 20) would bring together regional integration arrangements and institutions ...
... effective cross-country coordination may appear to be more challenging, but nonetheless the worsening condition of the world economy does merit a look into how the global anti-crisis response can be undertaken.
The coordinated global response to the ... ... the scale and synchronicity undertaken by countries. According to the International Labour Organization (ILO), “among the G20 countries alone, the size of fiscal stimulus amounted to $2 trillion – roughly 1.4 per cent of the world GDP. More importantly,...
... talks between the Russian and US presidents, as well as meetings of the leaders of BRICS economies, the significance of the G20 summit largely amounted to a reaffirmation of its role as the key venue for maintaining policy dialogue among the largest ... ... while at the same time allowing for the significant reserves to be deployed in counter-cyclical fashion as the rest of the world economy is facing a deceleration in growth and scarcity in the arsenal of policy instruments to support economic activity.
Source: ...
... throughout the world.
Talking of potentially positive opportunities to determine a united strategic policy, in terms of not just expressing good intentions but also taking practical steps in this direction it would be exceptionally useful for the world economy if the G20 decided to seek an increase in the total average growth of the G20 countries by a minimum of 2% during the next five years and to propose corresponding national and international strategies. However, it is not so much average growth that is an important ...
