Bloomberg News

Flexible Exchange Rate Needed to Spur Growth, Meade Tells G-20

December 13, 2011

Dec. 12 (Bloomberg) -- Policy makers should remove trade barriers and adopt flexible exchange rates to spur stronger global economic growth, Mexico’s Finance Minister Jose Antonio Meade said after meeting officials from the Group of 20 nations.

Mexico is hosting a meeting of G-20 deputy finance ministers this week for the first time since it took over the presidency of the group from France this month.

Meade, in an e-mailed statement, outlined Mexico’s goals as head of the G-20 over the next year. These include working on economic and structural reforms to boost growth and employment, strengthening financial systems and improving the global financial architecture, according to the statement.

The G-20 should also secure access to food for the poor and encourage sustainable development that seeks to mitigate the impact of energy and infrastructure development on the environment, the finance ministry said.

“Our goal is to put the issues on the table, analyze them and conclude them during the period,” Meade told deputy ministers from the group meeting in Mexico City.

Today’s meeting was called to set the agenda ahead of next year’s meeting in Mexico of G-20 finance ministers and a heads of state summit to take place in June in Baja California.

--Editors: Joshua Goodman, Robert Jameson

To contact the reporter on this story: Ben Bain in Mexico City at bbain2@bloomberg.net; Jose Enrique Arrioja in Mexico City at jarrioja@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net


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