FED:Swan to brief G20 meeting in Paris

AAP General News (Australia)
02-16-2011
FED:Swan to brief G20 meeting in Paris

CANBERRA, Feb 16 AAP - Federal Treasurer Wayne Swan will brief this weekend's G20 finance
ministers meeting in Paris on the impact of Australia's natural disasters on the economy.

The meeting will focus on bedding down reforms outlined by the G20 last year and will
lay the groundwork for a summit meeting of G20 leaders in Cannes at the end of this year,
Mr Swan said.

Mr Swan will tell the meeting that Australia's summer of natural disasters will affect
the economy in the short term, but the outlook is strong.

"Australia has very strong fundamentals - low unemployment, strong public finances,
a huge pipeline of business investment, and a plan to capitalise on our success," he said.

"Our economy is resilient, and we will withstand the impacts of floods, cyclones and
fires, just like it withstood the GFC better than any other developed economy."

Recovery remained fragile in the developed world economy following the onset of the
global financial crisis (GFC) in 2008.

Mr Swan will attend meetings with World Bank president Robert Zoellick, IMF managing
director Dominique Strauss-Kahn, the French finance minister Christine Lagarde and US
Treasury secretary Tim Geithner.

Before the G20 meeting, he will hold talks in London with his UK counterpart, Chancellor
of the Exchequer George Osbourne, and representatives of the financial sector about the
United Kingdom's prospects.

Mr Swan said he would address progress made in reforming the global financial system
at the Eurofi High Level Seminar in Paris on Friday.

AAP el/sb/jl

KEYWORD: SWAN G20

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