{"id":287,"date":"2024-10-22T14:46:00","date_gmt":"2024-10-22T14:46:00","guid":{"rendered":"https:\/\/intermedi.net.pe\/es\/?p=287"},"modified":"2024-10-29T14:47:57","modified_gmt":"2024-10-29T14:47:57","slug":"apec-finance-ministers-forge-strategies-focused-on-sustainable-digital-and-resilient-finances","status":"publish","type":"post","link":"https:\/\/intermedi.net.pe\/es\/apec-finance-ministers-forge-strategies-focused-on-sustainable-digital-and-resilient-finances\/","title":{"rendered":"APEC Finance Ministers Forge Strategies Focused on Sustainable, Digital and Resilient Finances\u00a0"},"content":{"rendered":"

Issued by the APEC Finance Ministers\u2019 Meeting<\/em><\/p>\n

Lima, Peru, 22 October 2024<\/em>
\nAs the global economic landscape continues to face economic, \u00a0financial and environmental challenges, APEC Finance Ministers from across the region are working together under this year\u2019s theme to promote a more sustainable, digital and resilient future.\u00a0<\/p>\n

In 2024, the Finance Ministers\u2019 Process (FMP) seeks to address economic integration, digital transformation and the broader social dimensions of growth.APEC Finance Ministers met in Lima, Peru on Monday where they were joined by representatives of international organizations and the private sector to discuss policy responses and future prospects for the region. Setting the tone for the meeting, Erick Lahura, Chief of Cabinet of Peru\u2019s Ministry of Economy, opened the session and highlighted the imperative for APEC economies to collaborate closely in achieving the vision for a more resilient and inclusive Asia-Pacific.\u201cTo ensure the long-term prosperity of the Asia-Pacific, we must focus on sustainable practices, digital transformation and building resilience across our economies,\u201d said Lahura. \u201cThis year, our work within the FMP will guide us toward a region that is stronger, more connected and better prepared to face future challenges.\u201d<\/p>\n

A key topic was the importance of sustainable finance, with a special focus on the implementation of the four policy areas: domestic carbon pricing and non-pricing measures, sustainable energy transitions, sustainable infrastructure financing, and the sustainable finance initiative. Members emphasized the significance of resilient finance, particularly in enhancing policies related to hydrometeorological risk.<\/p>\n

Along this line, Finance Ministers announced the launch of Sustainable Finance Initiative (SFI) as a flexible, voluntary and non-binding collaboration tool between the public and private sectors and international organizations to promote the development of voluntary information sharing tools and capacity building resources on sustainable finance issues. The SFI was designed to empower financial institutions, regulators and investors to develop expertise in sustainable finance, ultimately contributing to the promotion of green and inclusive economic growth while addressing pressing global challenges such as climate change and social inequality.<\/p>\n

Besides, in a region where nearly\u00a040 percent of the world\u2019s disasters strike<\/a>, with over 140 of those affecting more than 64 million people in 2022 and\u00a0economic costs reaching USD 65 billion in 2023<\/a>, APEC member economies committed to enhance their resilience by building deeper financial markets. Finance ministers are confident that resiliency can be bolstered through the development of innovative disaster risk financing and insurance mechanisms, and other risk transfer instruments available through capital markets.<\/p>\n

Members also emphasized the significance of digital finance, highlighting the progress made this year in two key policy areas: open finance and digital financial inclusion. Ambassador Carlos Vasquez, the APEC 2024 SOM Chair, noted the transformative impact of Peru\u2019s FinTech sector in driving financial inclusion and the small business empowerment. He pointed out that Peru now hosts over 237 FinTech companies, with digital payment transactions increasing by 113 percent over the past year. \u201cOur collective efforts to harness technology for the benefit of all ensures that everyone benefits from the growth opportunities we are working towards\u201d, Vasquez indicated.<\/p>\n

Dr Rebecca Sta Maria, executive director of the APEC Secretariat, highlighted the need for a whole-of-APEC approach to ensure that the social dimensions of economic growth are addressed, particularly in improving the quality of life through decent jobs, sustainable private investment and inclusive financial systems.<\/p>\n

\u201cOur work makes a meaningful impact when we focus on improving the quality of life for our people,\u201d Dr Sta Maria explained. \u201cWhether it be through regional economic integration or digital transformation, we must ultimately emphasize social inclusion and equity.\u201d<\/p>\n

Other measures in the spotlight included strategies to combat rising protectionism and promote trade facilitation. The need for continued vigilance in monetary policies was highlighted, especially in light of recent interest rate adjustments and their potential impact on currency valuations and inflation.<\/p>\n

Carlos Kuriyama, director of APEC Policy Support Unit, reported a steady GDP growth of 3.6 percent in the APEC region for the first half of 2024, a slight increase from the previous year.<\/p>\n

\u201cEconomic recovery has been bolstered by improving consumption rates and easing inflation, although risks such as protectionism, supply chain uncertainties, and geopolitical tensions remain critical concerns,\u201d Kuriyama concluded.<\/p>\n

Finally, the Minister of Economy and Finance of Peru, Jos\u00e9 Arista, concluded the meeting highlighting that Peru proposed a very ambitious plan for this year, with the most number of decisions, innovations and documents adopted in all the history of the FMP, and appreciates the work of all APEC economies, APEC Secretariat, APEC Business Advisory Council\u00a0and international organizations for making this possible.<\/p>\n

For further details, please contact:<\/strong><\/p>\n

APEC Media at\u00a0media@apec.org<\/strong><\/a><\/p>\n<\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Issued by the APEC Finance Ministers\u2019 Meeting Lima, Peru, 22 October 2024 As the global economic landscape continues to face economic, \u00a0financial and environmental challenges, APEC Finance Ministers from across the region are working together under this year\u2019s theme to promote a more sustainable, digital and resilient future.\u00a0<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,25,43,5],"tags":[],"class_list":["post-287","post","type-post","status-publish","format-standard","hentry","category-economia-digital","category-editorial","category-medios-informativos","category-noticias-de-la-alianza-del-pacifico-y-apec"],"_links":{"self":[{"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/posts\/287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/comments?post=287"}],"version-history":[{"count":2,"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/posts\/287\/revisions"}],"predecessor-version":[{"id":289,"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/posts\/287\/revisions\/289"}],"wp:attachment":[{"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/media?parent=287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/categories?post=287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/intermedi.net.pe\/es\/wp-json\/wp\/v2\/tags?post=287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}