G-20 meeting due in Istanbul under Turkey's direction

Deputy Prime Minister Ali Babacan speaks during a conference over topics to be discussed at the first meeting under Turkey?s G-20 presidency. AA Photo

Finance ministers and central bank governors of the world?s 20 leading economies will meet in Istanbul between Feb. 9 and 10 in the first meeting under Turkey?s G-20 presidency.

According to a statement released by Deputy Prime Minister Ali Babacan?s office on Feb. 7, G-20 member countries? representatives, ministers and central bank presidents, as well as several senior executives of international organizations, will attend the meeting.

The statement said G-20 deputies would assess the global economic outlook, risks and policy responses. They also plan to work on developing a monitoring mechanism to be able to effectively implement the commitments of G-20 countries? comprehensive growth strategies and shape a new narrative on investment and infrastructure issues, it said.

During the meeting, the 2010 International Monetary Fund Quota and Governance Reforms will also be negotiated and alternative options for rebalancing quotas and increasing fund resources would be considered.

G-20 undersecretaries and central bank vice presidents will meet on Feb. 8 and 9 to organize the technical consultations and preparations before the meeting of the G-20 ministers and central bank governors? meeting.

The declaration and conclusion of the meeting will subsequently be published and shared with the public.

Turkey has been the 2015 president of the G-20 since it took over the post from Australia on Dec. 1, 2014.

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