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Gordhan to lead SA delegation to G20

4th September 2009

By: Sapa

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Finance Minister Pravin Gordhan will lead the South African delegation to the G20 (Group of 20) meeting in London that begins on Friday evening.

The delegation would include Treasury DG Lesetja Kganyago and a group from the South African Reserve Bank, led by Governor Tito Mboweni and DG Renosi Mokate, the National Treasury said in a statement.

"Key points that South Africa will present to the meeting include advancing discussions on International Monetary Fund and World Bank reform, as South Africa believes that a post-crisis world should be characterised by greater policy coordination and a more effective financial system."

The country would seek commitment from multilateral institutions to support low-income countries - particularly in sub-Saharan Africa - to ensure global growth.

South Africa presented four points to the G20 London summit in April.

These were stabilising global finance, countering the global recession, deploying resources to support demand and sustaining investment in developing countries, and laying the foundation for a sustainable recovery.

The G20 meeting concludes on Saturday. The body was formally set up in 1999 as a way to gather the world's largest industrialised nations and developing nations to discuss global economic issues.

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The G20 includes Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the US, along with the EU.

 

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