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G20 Finance Ministers and Central Bank Governors to Meet in Ottawa

News Release
Ottawa, Canada, October 17, 2001

Finance Minister Paul Martin today announced that Canada will host the next meeting of G20 finance ministers and central bank governors on November 17 in Ottawa.

Minister Martin, who is the chair of the G20, has also invited the International Monetary and Financial Committee (IMFC) of the International Monetary Fund (IMF), as well as the Development Committee of the IMF and World Bank, to meet in Ottawa on November 17-18.

"In the wake of September 11, it is more vital than ever that we continue our work on the global stage," said Minister Martin. "These meetings will help to create the conditions for global prosperity, and also broaden the fight against terrorism."

The Minister invited the meetings to Canada after the Indian government decided not to host the G20 meeting in New Delhi.

"Canada is pleased to help at this challenging time," the Minister said. "And it is my hope that we will continue the work of the G20 at our next annual meeting in India."

The IMFC and DC were originally scheduled to meet on September 28 and 29 in Washington as part of the IMF's and World Bank's Annual Meetings, but those meetings were postponed after the September 11 terrorist attacks in the U.S.

Minister Martin made today's announcement after speaking with the World Bank and IMF. He has also consulted with Chancellor of the Exchequer for Britain and chair of the IMFC Gordon Brown, and with the chair of the Development Committee, Yashwant Sinha, India's Minister of Finance.

Source: Department of Finance, Canada

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