Ministers welcome Commonwealth role in promoting G20 dialogue

Finance ministers from Commonwealth countries have welcomed the opportunity the organisation provides in facilitating dialogue between G20 and non G20 countries.

 

Speaking at the end of the finance ministers meeting in Washington DC on Friday, 8 October 2010, Canada's Finance Minister, James Flaherty, who chaired the meeting said that there is need for continued effective international macroeconomic policy co-ordination to support global economic recovery and stability.

 

The meeting, hosted by Commonwealth Secretary-General Kamalesh Sharma, was also attended by IMF Managing Director Dominique Strauss Kahn and World Bank President Robert B Zoellick.

 

Ministers discussed recent developments in the global economy and valued the opportunity to share their diverse experiences. They shared their experiences with the economic crisis and the difficult recovery they face. They also stressed the importance of continued international policy dialogue and co-ordination as the global recovery begins to take hold.

 

In a groundbreaking move, they also called for concrete action on the debt of small and vulnerable Commonwealth members.