SOMO Paper
During the Covid-19 pandemic, billions of people around the world have lost their incomes and became poorer, while billionaires have become richer by speculating on global financial markets. The poorest countries are increasingly trapped in debt, whereas rich countries are creating and spending new money. As well as explaining how the G20 A small group of finance ministers and central bank governors from the world’s largest and richest countries. The G20 consists of the European Union plus 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. Various G20 ministerial meetings on finance and other topics, and a summit with heads of state, are chaired by a different G20 country each year. Indonesia currently holds the reins. India will take over in December 2022, and Brazil will likely follow in December 2023. dominates decision making on global financial issues and how their decisions lead to growing inequality, this paper offers ideas about how thes problem of increasing global financial inequality can be solved.
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