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

6 November 2009

NO.114

Treasurer to Attend G20 Finance Ministers And Central Bank Governors Meeting

This weekend I will attend the G20 Finance Ministers' and Central Bank Governors' Meeting in St Andrews, Scotland to continue our efforts towards a global economic recovery, while dealing with key challenges that lie ahead.

This will be the first meeting of the G20 since the Group was declared the premier forum for international economic cooperation by Leaders at the historic Pittsburgh Summit in September.

The St Andrews meeting is an important opportunity to assess the implementation of the key outcomes from the Pittsburgh Summit.  G20 Finance Ministers will be focused on launching the Framework for Strong, Sustainable and Balanced Growth, developing principles for exiting extraordinary measures introduced in response to the global financial and economic crisis.  We will also be discussing options for climate change financing ahead of the upcoming Copenhagen Summit.

I will be working with my G20 colleagues to maintain momentum in reforming International Financial Institutions (IFIs) and reviewing progress in our agenda to strengthen the global financial system.

While overseas, I will also be meeting with my colleagues from Canada and Korea who will host the G20 Finance Ministers' and Central Bank Governors' meetings and Leaders' Summits in 2010.

Following the G20 meeting I will travel to Indonesia to hold bilateral talks with my counterpart Finance Minister Sri Mulyani Indrawati as well as other key economic ministers. Australia and Indonesia already enjoy a strong economic relationship, working together on key global and regional economic challenges, and this visit will provide an excellent opportunity to strengthen these ties.

Next week I will also be attending the 16th APEC Finance Ministers' Meeting in Singapore to discuss how and where APEC can contribute to supporting, and delivering on, the G20 agenda.

APEC remains a key forum in the region and has a major role in international efforts to secure recovery from the global recession.

CANBERRA
6 November 2009