April 10, 2014 – Washington, D.C. – Department of Finance

Finance Minister Joe Oliver will attend the Spring Meetings of the International Monetary Fund (IMF) and World Bank Group this week in Washington, D.C., where he will also meet with his colleagues from the Group of 20 (G-20) countries.

Discussions will focus on policies to support stronger economic growth and employment, as well as on ways to encourage long-term investment in key areas to support growth, such as infrastructure. In addition, work will continue on reforms relating to financial regulation and IMF governance.

Minister Oliver will encourage all countries to boost jobs and growth, while reducing deficits and returning to balanced budgets over the medium term.

Quick Facts

• The G-20 is the premier forum for international economic cooperation, with members accounting for 85 % of global output and two-thirds of the world’s population.
• At their February meeting in Australia, G-20 Finance Ministers and Central Bank Governors committed to develop ambitious, but realistic, policies aimed at lifting the level of G-20 collective gross domestic product by at least 2% above the level implied by current policies by the end of the next five years.
• As a significant shareholder, Canada has an important governance role at both the IMF and the World Bank Group. The Minister of Finance represents Canada, the Caribbean and Ireland on the Board of Governors at both institutions.

Quotes

“I look forward to attending my first G-20 Finance Ministers Meeting and the Spring Meetings of the IMF and World Bank. Canada’s reputation in the global economic community remains strong, and these meetings present important opportunities to coordinate international economic policies to boost jobs and growth worldwide. The key task for all countries is to balance efforts to support job creation and economic growth with commitments to reduce deficits and return to balanced budgets over the medium term, as Canada is doing through its Economic Action Plan.”

- Joe Oliver, Minister of Finance