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

3 September 2009

NO.097

Treasurer to Attend G20 Finance Ministers' Meeting

This weekend I will attend the G20 Finance Ministers' Meeting in London to discuss current developments in the global recession and global actions being implemented in response.

G20 Finance Ministers recognise that the global economy remains fragile and we must continue to do all we can to support growth and jobs while the global recession plays out. 

The meeting is being hosted by the UK Chancellor of the Exchequer, Alastair Darling, in preparation for the G20 Leaders' Meeting to be held in Pittsburgh later this month. 

The G20 has become the pre-eminent forum for coordinating the world's response to the global recession and - through the decisive measures agreed at the G20 Leaders' Summit in London in April - has succeeded in preventing a global economic disaster. 

G20 Finance Ministers will be focused on reforming the global financial system and international financial institutions, as well as ensuring that efforts to support growth and jobs over the year ahead are fully implemented.

I will also be working with my G20 colleagues on the reforms needed to address the emerging challenges facing the global economy and laying the foundations for sustainable global growth into the future.

Prior to the G20 meeting, I will meet with senior institutional investors to discuss the fundamental strengths of the Australian economy.  I will also discuss the reforms the Rudd Government is implementing to boost our productivity and take full advantage of the opportunities that will come with global recovery.

This briefing follows yesterday's National Accounts which showed Australia has been the best performing advanced economy over the past year and the only advanced economy that has recorded positive growth over this period.

I will also give a speech at Chatham House, home of the Royal Institute for International Affairs, on the effectiveness of Australia's response to the global recession so far and the challenges still confronting the global economy.

I am travelling to India on my way back to Australia to further build on the growing economic ties between our two countries and to discuss opportunities for enhanced cooperation in major international forums, including the G20 and the East Asia Summit.

3 September 2009