Global General

France sets five pillars for G20 during its presidency

(Xinhua)
Updated: 2011-02-14 20:50

PARIS - The French presidency of the G20 has fixed five pillar missions for a G20 strategy "legitimate" and "able to meet the challenges" facing a "multipolar and unbalanced" world, French Minister of Economy and Finannces Christine Lagarde said Monday.

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French presidency has five areas of work to carry out, including to "identify the macro-economic imbalances," "reform the international monetary system," "reduce the excessive volatility of raw materials," "establish a seamless financial regulation," and to assist development, Lagarde said at a news conference in Paris.

In the conference ahead of the upcoming G20 financial meeting from Thursday to Saturday in Paris, the French economic minister said France has set a goal of "building a stronger, stabler and more resilient global economy," with Christian Noyer, governor of the French central bank, on her side.

According to Lagarde, finance ministers and central bank governors of G20 countries will meet three times prior to the summit of the group due on Nov 3 and 4 in Cannes. The first one is expected on Feb 18 and 19 in Paris, the second on April 14 and 16 in Washington and the third on Oct 13 and 14 in Paris.