July 14, 2010
G20 Seoul summit to tackle global financial stability
International Monetary Fund (IMF) chief Dominique Strauss-Kahn said Wednesday that he would cooperate closely with the Korean government for a successful hosting of the G20 Seoul Summit in November, the presidential office said.
During his courtesy call on President Lee Myung-bak at Cheong Wa Dae, Strauss-Kahn, who is on a visit to Seoul to participate in an economic conference, praised Korea on its globalization efforts, saying the G20 meeting will pave the way for a stronger partnership between Korea and the IMF.
President Lee asked the IMF to play a greater role in ensuring global financial stability, which will be one of the key topics at the Seoul summit.
"Stressing the importance of the summit in finding binding solutions to the global economic crisis, Lee asked the IMF to help countries find common ground on challenging issues," Cheong Wa Dae said in a press release.
As host of the meeting of the world's 20 wealthiest nations, Seoul has vowed to prioritize setting up the global financial safety net for emerging and less-developed nations and stepping up reform of the financial governance structure.
Officials here said the G20 will focus on accelerating reform of the IMF and the World Bank, and addressing the needs of developing nations to promote a more balanced global growth.
President Lee has made it clear that he will mediate between developed and emerging economies to address their conflicting views and, for his part, increase Korea's stake in deciding on the future course of the global economy.
"Close policy coordination between Korea and the IMF is crucial to move the global economy forward," Lee said at the meeting with the IMF managing director.
koreatimes.com
G20 Seoul summit to tackle global financial stability
International Monetary Fund (IMF) chief Dominique Strauss-Kahn said Wednesday that he would cooperate closely with the Korean government for a successful hosting of the G20 Seoul Summit in November, the presidential office said.
During his courtesy call on President Lee Myung-bak at Cheong Wa Dae, Strauss-Kahn, who is on a visit to Seoul to participate in an economic conference, praised Korea on its globalization efforts, saying the G20 meeting will pave the way for a stronger partnership between Korea and the IMF.
President Lee asked the IMF to play a greater role in ensuring global financial stability, which will be one of the key topics at the Seoul summit.
"Stressing the importance of the summit in finding binding solutions to the global economic crisis, Lee asked the IMF to help countries find common ground on challenging issues," Cheong Wa Dae said in a press release.
As host of the meeting of the world's 20 wealthiest nations, Seoul has vowed to prioritize setting up the global financial safety net for emerging and less-developed nations and stepping up reform of the financial governance structure.
Officials here said the G20 will focus on accelerating reform of the IMF and the World Bank, and addressing the needs of developing nations to promote a more balanced global growth.
President Lee has made it clear that he will mediate between developed and emerging economies to address their conflicting views and, for his part, increase Korea's stake in deciding on the future course of the global economy.
"Close policy coordination between Korea and the IMF is crucial to move the global economy forward," Lee said at the meeting with the IMF managing director.
koreatimes.com
