8 October 2013

Results of the G20 Summit to be discussed in Washington

The upcoming G20 Finance Ministers and Central Bank Governors' Meeting in Washington D.C. will focus on the results of the St.Petersburg Summit and the decisions the G20 Leaders took there, as well as on ways to improve the effectiveness of the G20's work in general.

In St.Petersburg, the G20 heads of state and government discussed the ongoing work by the IMF and World Bank Group to review and update the Guidelines for Public Debt Management and adopted a decision to reduce sovereign debts and budget deficit in the mid- and long-terms.

The G20 Leaders also urged the ratification of the 2010 IMF Quota and Governance Reform, which is expected to increase the BRICS countries' quotas substantially.

These issues will be discussed further at the meeting in Washington D.C. on October 10-11, in order that the G20 Finance Ministers and Central Bank Governors may formulate concrete proposals and recommendations for the G20 Leaders in time for the November 2014 Summit in Australia.