Backgrounder: 1999-2004 Meetings of G-20 Finance Ministers and Central Bank Governors

Six rounds of the G-20 Finance Ministers and Central Bank Governors have been convened since its inaugural meeting held in 1999 in Berlin, Germany.

The first meeting of G-20 Finance Ministers and Central Bank Governors was held on December 15-16, 1999 in Berlin, Germany. All parties exchanged their views on the global and regional economies and their financial situation, and also ways to reform the global financial system.

The second ministerial meeting of the G-20, held on October 24-25, 2000 in Montreal, Canada, mainly discussed the opportunities and challenges posed to all economies by globalization and reducing vulnerability to financial crises.

The third ministerial meeting of the G-20, held on November 16-17, 2001 in Ottawa, Canada, discussed the effect of the attacks of September 11, 2001 on the global economy and finance, and the role of the G-20 in the fight against terrorist financing.

During the fourth ministerial meeting of the G-20 held on November 22-23 in New Delhi, India, Ministers and Governors deliberated on matters concerning crisis prevention and resolution, globalization, combating the terrorist financing, and maintaining sustained economic growth.

The G-20 finance ministers and central bank governors met for the fifth time on October 26-27, 2003 in Morelia, Mexico, to discuss issues of the prevention and resolution of financial crisis, financing of economic development, disrupting terrorist financing networks, globalization and economic development, and the institution building in the financial sector.

The last ministerial meeting of the G-20, held on November 20-21, 2004 in Berlin, Germany, reviewed the current macroeconomic situation, continued talks about the institution building in the financial sector, and covered topics such as combating the abuse of the global financial system, the challenge posed by the problem of ageing, the issue of immigration, sovereign debt restructuring, 60-year review of the Bretton Woods institutional system, the promotion of stability and growth in the context of globalization, and the regional integration.

Source: Xinhua