The Hindu : Sinha chosen G-20 Chairman

Online edition of India's National Newspaper
Thursday, Feb 28, 2002

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Sinha chosen G-20 Chairman

By Our Special Correspondent

NEW DELHI FEB. 27. The Union Finance Minister, Yashwant Sinha, was today chosen Chairman of G-20 by the Finance Ministers and Central Bank Governors of the member-countries. The announcement was made in Ottawa by the outgoing Chairman and Finance Minister of Canada, Paul Martin.

The next G-20 meeting will be held in New Delhi later this year. Mr. Sinha will preside over it. The G-20 Secretariat will immediately shift from Ottawa to Delhi.

Floated in 1999, G-20 is the forum of Finance Ministers and Central Bank Governors representing 19 countries, the European Union and the Bretton Woods Institutions (IMF and World Bank). The Group comprises G-7 countries (the U.S., U.K., Canada, France, Italy, Germany, and Japan), Russia, Saudi Arabia, Turkey, Australia, Indonesia, China, South Africa, India, Mexico, Argentina, Brazil and Republic of Korea.

The G-20 represents the next stage in the evolution of a forum of dialogue among countries representing both developed and emerging economies from every region of the globe. It addresses issues related to development, international economy and financial systems.

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