On 6-7 November, Minister for Finance Anders Borg will participate in the G20 finance ministers meeting in St Andrews, Scotland.
Why another G20 meeting?
The meeting in St. Andrews is a follow-up to the G20 meeting in Pittsburgh, where the finance ministers were tasked with continuing their work on climate, exit strategy and framework issues. The global crisis requires internationally coordinated measures and we are now well on the way to agreeing such measures in a large number of areas.
What will be the main issues at the meeting?
Within the G20 Framework for Strong, Sustainable, and Balanced Growth, the finance ministers, in cooperation with the IMF, will start the process for a mutual assessment of countries' economic policies. This is an important step in global cooperation aimed at minimising the risk of experiencing new crises like that we are now undergoing.
Furthermore, the G20 finance ministers, with the support of the IMF and the Financial Stability Board, will develop cooperative and coordinated strategies for exiting the stimulus measures required in the past year. Such exit strategies are necessary to achieve long-term sustainability in the global economy.
What can come out of the meeting in the climate area?
Our hope is that the discussions in the G20 can provide the necessary momentum leading up to the UN climate meeting in Copenhagen. In St Andrews, the Presidency will argue the EU position on the importance of a major increase in resources to finance measures to fight climate change and swift action to meet the acute climate problems.
