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G20 states intend to speed up digital transformation

G20 nations also plan to continue efforts to expand the system of cross-border payments

BALI /Indonesia/, November 16. /TASS/. The countries of the Group of Twenty (G20) will encourage the global community to more widely use digital technologies and shift to digital economy as soon as possible, according to the declaration by the group’s leaders approved on Wednesday following the Bali-hosted summit.

"We also seek to increase connectivity by accelerating high capacity and secure infrastructure and provide more accessible and affordable resources and tools, <…> as digital technology becomes the key for recovery and empowerment across various sectors, including in building a resilient and sustainable food system and agriculture, creating sustainable and decent jobs and human capacity development, supporting inclusive trade, industrialization and investment, increasing productivity, as well as opening up the potential of the future economy," the declaration reads.

G20 nations also plan to continue efforts to expand the system of cross-border payments. "We encourage central banks, other public authorities and the payments industry to continue to work collaboratively on these important initiatives to enhance cross-border payments," according to the document.

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