On a trip to the US, the minister said that President Joe Biden’s government backs the measure, proposed by Brazil. The world could be on the brink of a debt crisis, he added.
"The aim of this project is to highlight social issues that often escape the attention of mainstream media and public authorities,” Rene Silva explains.
Finance Minister Haddad highlighted addressing inequality and climate change as the primary challenges to be collectively tackled by the countries comprising the G20.
According to Ilan Goldfajn, $3.4 billion will be offered in derivatives contracts that will be passed on from the Central Bank to Brazilian financial institutions.
Organizations from over 60 countries have signed up to write the document that will be submitted for negotiation with G20 governments until November, when their next summit will take place in Rio.
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