G20 finance ministers meet to seek consensus before US election
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Finance ministers and central bankers from the Group of 20 (G20) are meeting this week in Rio de Janeiro to seek consensus on economic policy ahead of the US election. The G20 negotiators have agreed to avoid discussing the conflicts in Ukraine and Gaza to prevent them from dominating the talks. Brazil, the host of the meeting, hopes to shift the focus to economic cooperation on issues such as climate change and poverty. They also aim to gain support for a proposed global tax on the super-rich, which has already received backing from Belgium, Colombia, France, Spain, the African Union, and South Africa. The proposal calls for an annual 2% levy on fortunes exceeding US$1 billion, potentially raising up to US$250 billion per year from around 3,000 individuals. The G20 meeting in Rio is the last finance track meeting before the G20 summit in November, which coincides with the US elections.

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