G7, G20 finance chiefs to meet in DC on April 25

WASHINGTON (AFP) – Finance ministers of the Group of Seven (G7) and Group of 20 (G20) will hold talks in Washington on April 25 as they gather for the spring meetings of the International Monetary Fund and the World Bank, the US Treasury said Monday.

Treasury Secretary Timothy Geithner “will host a G7 finance ministers and central bank governors meeting followed by a G20 ministerial meeting in Washington, DC,” on that date, a statement said.

This will be Geithner’s first time hosting a finance ministerial meeting since becoming Treasury Secretary under the administration of President Barack Obama, who took office on January 20.

Geithner will hold a press conference following the ministerial meeting of the G7, which comprises Britain, Canada, France, Germany, Italy, Japan and the United States, the statement said.

The meetings in Washington follow the G20 summit in London earlier this month, which culminated in a 1.1-trillion-dollar (821-billion-euro) injection into major multilateral institutions such as the IMF to help battle the spreading global recession.

The G20 comprises the G7 members plus Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey, and the European Union.

Source: Yahoo News


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