Back to Headlines Print Version Buzz Up Stumble it Tweet it Facebook LinkedIn

G20 Agrees To Share National, Regional Policy Framework-Annex

By Andrea THomas, Of DOW JONES NEWSWIRES

ST ANDREWS, Scotland -(Dow Jones)- Financial officials from the Group of Twenty nations Saturday agreed on providing information about their medium-term policy framework to the International Monetary Fund and share it with the other countries by the end of January next year.

In a template for national and regional policy frameworks for 2010, finance ministers and central bankers of the G20 promised to set out "their medium-term policy frameworks, plans and projections in the agreed template on a consistent basis with other G20 member."

They agreed to provide the International Monetary Fund with "policy frameworks and plans for the next three to five years, if possible," the document said. " G20 members should complete the template, sharing with all other G20 counties at the same time, by the end of January 2010, if possible."

The agreement came in an unofficial annex to the G20 finance ministers and central bank governors' meeting, seen by Dow Jones Newswires. The officials agreed on an annex to the communique entitled "Framework for Strong, Sustainable and balanced growth: Developing the 'Mutual Assessment Process'."

As shared policy objectives, the officials "reaffirmed their shared objectives of strong, sustainable and balanced growth and of raising living standards in the emerging markets and developing countries."

In addition, they said the "first challenge" for the G20 in using this framework will be "the transition from crisis response to a strong, more sustainable and balanced pattern of global growth."

-By Andrea Thomas, Dow Jones Newswires; +49 30 2888 4126; andrea.thomas@ dowjones.com

  (END) Dow Jones Newswires
  11-07-091139ET
  Copyright (c) 2009 Dow Jones & Company, Inc.