G-20 at centre of US's cooperative effort: Geithner

Lalit K Jha
Washington, Nov (PTI) Noting that G-20 is the premier
forum for international economic co-operation, US Treasury
Secretary Timothy Geithner has told lawmakers that the Obama
Administration is placing the forum at the centre of its
global economic cooperative effort.

G-20 is a grouping of the 20 most powerful economies of
the world including India.
"After decades in which cooperation was focused on a
small number of the major industrial countries, we've made the
G-20 the premier forum for international economic
cooperation," Geithner said in his testimony Tuesday before
the Senate Foreign Relations Committee, which had convened a
hearing on global economy.
"We're working to strengthen the international financial
institutions so they can play a more effective role in
promoting our interests in global growth and development.
"As part of this, we are examining a set of reforms to
improve internal governance in the institutions, to provide
more focus on core priorities of development and to strengthen
the financial structure of the banks," Geithner said, adding
that reform of the International Monetary Fund and the World
Bank is at the top of their agenda.
"We're supporting a set of reforms to the governance
structure of the institutions to increase the rights and
responsibilities of our major trading partners and the most
populous, rapidly growing economies in the world," he said.
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