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G20 to be held in Toronto
It's official. The G20 Summit will be held in Toronto, putting an end to speculations that the event would be held here, where it was originally announced by MP Tony Clement with Huntsville mayor Claude Doughty by his side.
The G20 location, announced by Prime Minister Stephen Harper and South Korean president Lee Myung-bak during Harper's visit to that country, will be held on June 26 and 27, immediately after the G8 Summit in Huntsville.
At the G 20 Summit in Pittsburgh this past September, the two leaders announced that each country would be hosting a G 20 Summit in 2010. A second G 20 Summit will be held in Seoul, Korea in November.
“The G 20 has facilitated decisive action throughout the past year to limit the impact of the global financial crisis on jobs and growth,” said a news release from the Prime Minister's Office. “Canada continues to play a leadership role to ensure a durable recovery is assured. We are implementing one of the largest stimulus packages and are contributing to international financial reform by helping to lead the G 20 and the work of the Financial Stability Board.”
At the Pittsburgh summit, world leaders agreed to launch a framework that lays out the policies and ways to act together to generate strong, sustainable and balanced global growth. One of Canada’s goals at the Toronto Summit in 2010 will be to ensure the framework’s prompt and effective implementation.
“This represents an unprecedented opportunity to maintain the momentum needed to introduce much-needed financial sector reforms,” added the prime minister. “We have demonstrated leadership by providing new resources and guarantees to strengthen international financial institutions, namely innovative new capital arrangements to help ensure the Inter-American Development Bank and the African Development Bank have resources they can count on throughout the crisis. We intend to continue playing a role in defining the path forward in 2010.”