Finance chiefs from the Group of 20 are signing up for a March 31 meeting to address overhauling the global monetary system as China seeks to expand the global role of the yuan and the U.S. presses for the currency to appreciate.
The seminar is scheduled to be held in Nanjing, China, and will be jointly hosted by France, the rotating chair of the G-20 this year, and China, Sohn Byung Doo, director-general of the G- 20 bureau at South Korea’s finance ministry, said in a telephone interview. French President Nicolas Sarkozy and Finance Minister Christine Lagarde will attend, according to an official at a G- 20 government who spoke on condition of anonymity because the agenda for the gathering has yet to be formally announced.
Weeks before the session, most G-20 members haven’t yet specified who they will send. Australia’s central bank said Governor Glenn Stevens does plan to go. South Korea hasn’t decided whether Finance Minister Yoon Jeung Hyun will attend, Sohn said.
South Korea was the G-20 chair in 2010, and led an effort to agree on ways to avoid the trade and capital-flow imbalances blamed in part for sparking the 2007-2009 global financial crisis. Finance ministers and central bankers concluded talks in Paris on Feb. 20 by listing the yardsticks they will monitor to see whether imbalances are forming. Among them: budget-deficit levels, the external imbalance and private savings rates.
The G-20 groups the largest emerging and developed economies, from the U.S., Germany and Japan to China, India and Brazil.
Source: http://www.bloomberg.com
The seminar is scheduled to be held in Nanjing, China, and will be jointly hosted by France, the rotating chair of the G-20 this year, and China, Sohn Byung Doo, director-general of the G- 20 bureau at South Korea’s finance ministry, said in a telephone interview. French President Nicolas Sarkozy and Finance Minister Christine Lagarde will attend, according to an official at a G- 20 government who spoke on condition of anonymity because the agenda for the gathering has yet to be formally announced.
Weeks before the session, most G-20 members haven’t yet specified who they will send. Australia’s central bank said Governor Glenn Stevens does plan to go. South Korea hasn’t decided whether Finance Minister Yoon Jeung Hyun will attend, Sohn said.
South Korea was the G-20 chair in 2010, and led an effort to agree on ways to avoid the trade and capital-flow imbalances blamed in part for sparking the 2007-2009 global financial crisis. Finance ministers and central bankers concluded talks in Paris on Feb. 20 by listing the yardsticks they will monitor to see whether imbalances are forming. Among them: budget-deficit levels, the external imbalance and private savings rates.
The G-20 groups the largest emerging and developed economies, from the U.S., Germany and Japan to China, India and Brazil.
Source: http://www.bloomberg.com
No comments:
Post a Comment