digital economy firms and the second a global minimum corporate tax rate of 15%. The finer details are yet to be agreed. Talks are in progress on certain tax amounts member nations are entitled to.

Capacity building of nations to implement the reform is also a priority. The leaders’ summit is expected to see progress in concluding the final framework. Experts expect that the global tax deal, backed by nearly 140 nations, could be in force by end of 2025.

What about reforms of multilateral banks? A report by an independent panel comprising Fifteenth Finance Commission chair N.K. Singh and former US treasury secretary Lawrence Summers calls for reforms of multilateral development banks. Their second report is expected in October.

What to expect from the G20 leaders’ summit

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