US Treasury's McCormick: DC Summit To Set Reform Principles
"We expect leaders will discuss actions that their countries have taken and will take individually and collectively to respond to the challenges that lie ahead," McCormick said. He spoke at a press briefing after the close of the G-20 meeting of finance ministers and central bankers in Sao Paulo.
G-20 leaders will meet Nov. 14-15 in Washington, D.C.
President-elect Barack Obama has been kept up to speed on developments and discussions among G-20 members, and may participate in next week's meeting, McCormick said.
"We want to have a nice hand-off so that we can continue with the reform agenda going forward," he said about the U.S. presidential transition.
According to McCormick, G-20 members also discussed the need for fiscal stimulus packages to fuel economic growth. He called the Chinese government's decision to announce a 4- trillion-yuan ($586 billion) stimulus package a "welcome step."
McCormick highlighted the U.S. government's stimulus package earlier in the year, which gave a boost to domestic consumption in the third quarter.
The U.S. also supports much-needed reforms at multilateral institutions, as well as a larger role for the International Monetary Fund. The IMF has played a critical role in resolving the ongoing global financial crisis, and that role should grow in the future, McCormick said.
-By Jeff Fick, Alastair Stewart, Natasha Brereton and Terence Poon; 55-11-8147-0569; Brazil@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=GQSEj%2BjGxj4TSpr2pdZc4Q%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
November 09, 2008 14:58 ET (19:58 GMT)
Publié le 09 novembre 2008 Copyright © 2008 Dowjones
Partager sur:
