The United Arab Emirates Ministry of Finance reported its participation in the first G20 Finance and Central Bank Deputies meeting under South Africa’s G20 Presidency, held in Johannesburg on 11–12 December 2024, alongside the Joint Sherpa and Finance Deputies Meeting. The UAE delegation, led by the Ministry’s Undersecretary Younis Haji AlKhoori and the Central Bank of the UAE’s Assistant Governor for Monetary Policy and Financial Stability Ebrahim Al Zaabi, engaged on the G20 Finance Track priorities for 2025. Discussions covered the global economic outlook, financial stability, debt vulnerabilities, sustainable finance, infrastructure, financial inclusion, health finance collaboration, and international taxation. The UAE emphasised strengthening fiscal space, rebuilding macroeconomic buffers and supporting inclusive recovery, and highlighted the use of innovative financing mechanisms to bolster global financial stability and support emerging markets and developing economies. It also supported South Africa’s proposed 2025 workplans on infrastructure and sustainable finance, including engagement with global climate finance funds, improving data quality in cross-border payments, strengthening digital infrastructure, and advancing the use of artificial intelligence and cybersecurity, as well as aligning with global climate finance frameworks and developing domestic carbon markets. On international taxation, the UAE reiterated support for a more inclusive tax system, including assessing the impact of Pillar 2 on BEPS Action items, advancing tax transparency and developing compliant tax incentives for multinational companies. Deputies agreed to review progress against the 2025 priorities at the next meeting.

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