G20 Seoul meeting to discuss post-crisis management

Post-crisis management of the global economy will be one of the main agenda items for the G20 Summit in Korea next year, a senior presidential aide said yesterday.

Sakong Il, chairman of the G20 Summit Korea Coordinating Committee, said at a seminar in Seoul that participating leaders are also likely to discuss establishing a financial safety net to prevent another crisis.

Sakong, who also serves as the chairman of the Korea International Trade Association, was the keynote speaker of the seminar on G20 summit and the world economy. It was jointly hosted by the Korea Institute for International Economic Policy and the Center for Economic Policy Research.

In the next G20 summit to be held in Canada in June, leaders may focus on exit strategies and general principles for internationally concerted measures, the economist said.

Sakong said he hopes to see leaders focus on the post-crisis global economic growth strategy and an enhancement of global economic growth potential during the Seoul summit.

He said that Korea also could bring up the issue of raising regional financial safety.

Asked on the timing of exit plans, Sakong said countries now need to prepare to tighten budgets. But implementation may have to be done after agreeing on general principles at the G20 summit, he said.

(christory@heraldm.com)



By Cho Chung-un