The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Wayne Swan

Wayne Swan

Deputy Prime Minister and Treasurer

3 December 2007 - 27 June 2013

22 January 2009

NO.005

Treasurer's Visit to New York 22-24 January 2009

Today I am departing for New York to promote Australia's economic interests at G'Day USA: Australia Week 2009 events, and for meetings with key financial market leaders.

G'Day USA: Australia Week promotes Australia to US audiences including business, politics, the arts, tourism and entertainment as an innovative, dynamic and sophisticated economy with leading-edge research and technology in products, goods and services.

The program highlights Australia as a first-class place to do business, invest, source goods and services, and as a holiday destination.

I will be presenting the keynote address at the G'Day USA Financial Services Luncheon, and attending the Australia Day Dinner.

In addition to these events I will meet with institutional investors to promote Australia, stressing the stability and strength of our financial sector, as well as taking the opportunity to hear first-hand the views of finance sector executives on local and international financial market conditions.

I will meet Ms Christine Cumming, First-Vice President of the New York Federal Reserve, to discuss the outlook for the US and global economy, and the impacts of the global recession.

I will also have separate meetings with rating agencies Moody's and Standard and Poor's. These meetings will provide opportunities to reiterate the safety of bank wholesale funding guaranteed by the Australian Government and the stability of Australia's banking system. We will also discuss Australia's regulation of rating agencies.

In addition I will meet Jim Blackwell, President of Chevron Asia Pacific to discuss the outlook for oil prices and world growth, particularly in the Asian region.

SYDNEY
22 January 2009