G20 Bali summit 2022

                                             

      

• The G20 Summit, also known as the Group of Twenty, is an annual international forum for governments and central bank governors from 20 major economies. The G20 represents around 85% of the global economy and two-thirds of the world's population. The summit is held to discuss and coordinate economic policies, address global challenges, and promote international cooperation.

• The recent G20 Summit, held in November 2021, was hosted by Italy and chaired by Italian Prime Minister Mario Draghi. The theme of the summit was "Building a Sustainable and Resilient Recovery." The leaders of the G20 countries discussed a range of issues, including the COVID-19 pandemic, climate change, trade, and development.

• One of the main outcomes of the summit was the endorsement of the G20 Debt Service Suspension Initiative (DSSI). The DSSI is a temporary suspension of debt service payments for the poorest countries to help them deal with the economic impact of the COVID-19 pandemic. The DSSI has been extended until the end of 2021 and will provide relief to 73 low-income countries.

• One of the main outcomes of the summit was the endorsement of the G20 Debt Service Suspension Initiative (DSSI). The DSSI is a temporary suspension of debt service payments for the poorest countries to help them deal with the economic impact of the COVID-19 pandemic. The DSSI has been extended until the end of 2021 and will provide relief to 73 low-income countries.

• The G20 Summit also addressed other issues such as climate change, trade, and development. The leaders reaffirmed their commitment to the Paris Climate Agreement and agreed to work towards increasing the use of renewable energy and promoting green growth.

                                  

• In China, the government has announced that it will reduce its carbon emissions by at least 50% by 2030. This is a significant increase from its previous goal of reducing emissions by 40% by the same deadline.

• In addition to the DSSI, the G20 leaders also agreed to extend the G20's financing for health emergencies (FHE) by an additional two years. The FHE is a $22 billion fund that provides financial and technical assistance to help countries respond to health emergencies such as the COVID-19 pandemic.

Other notable news from around the world includes:

• In the United States, President Joe Biden has signed a number of executive orders reversing some of the policies of the previous administration. This includes re-joining the Paris Climate Agreement and revoking the permit for the Keystone XL pipeline.
• In China, the government has announced that it will reduce its carbon emissions by at least 50% by 2030. This is a significant increase from its previous goal of reducing emissions by 40% by the same deadline.
• In India, the government has launched a vaccination drive to inoculate its population against COVID-19. The vaccination campaign is being carried out using vaccines developed by Indian pharmaceutical companies.

Overall, the G20 Summit and the latest news from around the world show a continued commitment to addressing global challenges and promoting international cooperation.

                                     

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