Chidambaram to attend G-20 meet

Finance Minister P Chidambaram will arrive in Beijing on Friday to attend the meeting of G-20 Finance Ministers, which will review the role of Bretton Woods Institutions and discuss developmental issues as well as challenges brought about by globalisation.

Chidambaram will participate in the seventh G-20 ministerial meeting as well hold bilateral talks with his Chinese counterpart, Jin Renqing and others on matters of mutual interest, official sources said.

The Reserve Bank of India Governor Y V Reddy will also attend the meeting of G20 Central Bank Governors to be held in Xianghe city in north China's Hebei province.

The theme of the October 15-16 meeting is 'Global Cooperation: Promoting Balanced and Orderly World Economic Development'.

The two-day meeting has five topics: the reform of Breton Woods Institutions; the development of financing; the innovation of development concept; senilisation and immigration; the current global and regional economy and development. Together, the World Bank and the International Monetary Fund are referred to as the Bretton Woods Institutions or BWIs, which were created at Bretton Woods New Hampshire in 1944.

The meeting will focus on how to meet the globalisation challenges, how to facilitate balanced and orderly development of the world economy, and how to accelerate reforms in the international financial architecture, Chinese finance ministry officials said.