The Group of Twenty (G-20) colleagues in Mexico City this weekend to take stock of progress being made on their shared commitment to strong, sustainable and balanced global growth. This will be the first meeting of Finance Ministers and Central Bank Governors under Mexico’s chairmanship of the G-20.
“Greater coordination by all G-20 economies continues to be important,” said Minister Flaherty. “G-20 countries must act swiftly on their commitments to address short-term vulnerabilities and strengthen medium-term foundations for growth, as Canada is already doing with our low-tax plan for jobs and growth.”
Canada is on track to meet its G-20 commitments, including its plan to return to fiscal balance while not raising taxes on Canadian families or businesses.
Ministers and Governors will discuss the implementation of the action plan agreed to by G-20 Leaders in Cannes last fall, which features commitments to meet fiscal consolidation targets and to move more rapidly toward market-determined exchange rates. In addition, they will discuss progress on a wide range of financial sector reforms.
The sovereign debt crisis in Europe will also be a key topic, with the G-20 continuing to encourage European policymakers to take the necessary actions to resolve the crisis.
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