The G20 “remains determined” to overcome the bottlenecks and shortcomings for a broader global vaccination than Covid-19 and “remains determined to bring the pandemic under control everywhere”. The Minister of Economy said so Daniele Franco in the press conference at the end of the G20 finances in Washington under the Italian presidency. In the final communiqué, the G20 looks at “concrete proposals” on this front from the joint meeting of the Finance and Health Ministers of the October 29, close to the G20 of the heads of state and government in Rome, to “improve international governance, financing and coordination”.
Visco: key role in vaccinations, also for economy
“The global recovery is irregular with downside risks: vaccinations play a key role not only for health but also for the economy”. Underlined the governor of the Bank of Italy, Ignazio Visco. “Economic policy must continue to offer support for the recovery for as long as necessary,” added Visco, and the factors underlying the acceleration of inflation in advanced countries are largely “temporary”. “No so-called global ‘stablecoin’ – basically a cryptocurrency stabilized thanks to the connection with a real currency – should become operational before all operational, legal and supervisory requirements are adequately addressed through an adequate architecture and adhering to applicable standards”.
Franco: national digital taxes removed in 2024
Answering the question of when national digital taxes, such as those of Italy and France, will be removed, Franco replied: “They will be removed in 2024”. The Minister of Economy explained: «It is one of the topics discussed. We expect the two new Pillars »of the global taxation agreement for multinationals« to be implemented in 2023, at which point national taxes will be removed ».