Voorbereidende bijeenkomst voor G20-top ministers van financiën oktober (en)
The meeting of G20 Deputies was devoted to preparing for the October meeting of Finance Ministers and summing up the preparations midway through France’s G20 chairmanship.
On 9th-10thJuly this year, Ludwik Kotecki, Secretary of State at the Finance Ministry, took part in the meeting of Deputy Finance Ministers and Central Bank Governors of the G20 countries or G20 Deputies. It was the first time a representative of Poland had participated in a G20 meeting at that level as part of Poland’s Presidency of the EU Council in the latter half of 2011.
The state of the world economy and the fulfilment of commitments accepted by G20 states at the Seoul summit of 2010 were the main topics discussed at the meting in Paris. The main economic risks pointed out in the introductory remarks of the IMF representative was the crisis in peripheral states of the euro zone, the USA’s fiscal problems and the possible overheating of some emerging economies.
In addition, the Ministers discussed the state of implementation of financial-services reforms and the reform of the international monetary system. In the realm of financial services, of key significance are measures undertaken by the Financial Stability Board (FSB) regarding the identification and capital requirements of Systemically Important Financial Institutions (SIFI), agreeing common rules for derivatives markets and oversight of non-bank financial institutions.
At the G20 forum, Minister Kotecki presented the common EU position on the vacillation of prices of raw materials. That issue is among the priorities of France’s G20 presidency which regards the instability of raw-materials prices as one of the threats to world economic growth. The European Union believes the G20 states should above all concentrate on improving market data so that sellers and buyers could have at their disposal complete, reliable information on supply and demand.