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Mexico focuses attention on meeting of G20 finance ministers in Moscow

July 19, 2013, 8:16 UTC+3

The debates at the meeting will focus on such issues as global economy and the measures to attain a sustainable and progressing economic growth in the world

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MEXICO, July 19 (Itar-Tass) - Mexico focuses attention on a meeting of the finance ministers and the governors of the Central Banks of the G20 states that will open in Moscow on Friday. The forum will conduct a thorough analysis of the achievements that were made over the most important issues of the G20 agenda up to now, Mexican Minister of Finance and Public Credit Luis Videgaray said in an exclusive interview with Itar-Tass in Moscow.

The participants in the meeting “will agree on a strategy to attain the fulfilment of the proposals, which Russia made as a G20 presiding country,” the minister noted. He noted that several issues, which are of paramount importance for the financial and economic stabilization in the world, were put on a broad agenda of an upcoming forum.

The debates at the meeting will focus on such issues as global economy and the measures to attain a sustainable and progressing economic growth in the world, a long-term financing and investments, Videgaray noted. The participants in the forum will also discuss possible measures to combat the erosion of the tax base and profit transfer. This initiative envisages the development of a joint policy, which would hamper the capital flight and tax evasion in legal ways through the offshore zones.

“It is very important to note that before a current meeting of the finance ministers the working groups had several meetings, the participants of which exchanged the views on the main issues of the agenda,” the minister indicated. In his view, thanks to this fact the G20 states attained a major progress in the debates over the main issues on the current G20 agenda.

“Mexico believes that though the actions in the macroeconomic policy of the developed countries, particularly the Eurozone, permitted to bring down financial risks, all the same it is needed to take additional measures to restore trust in the markets,” Videgaray stated. He noted that “several countries with developed economy still post a high unemployment rate and low figures of economic growth.” “Therefore, the program of structural reforms in the developed countries can become a detonator for the restoration of global economy,” the Mexican finance minister believes.

“In this respect, Mexico is working on the implementation of a sweeping program of structural reforms, the goal of which is to give an impetus to economic development,” the minister pointed out. For the fulfilment of the program “our country has developed the Pact for Mexico, which spells out a joint strategy of the government and three leading parties” for the promotion of the reforms. The program includes such aspects as the ensuring of the rights and freedoms of the society, economic growth, the provision with jobs and competitiveness, security and justice, the struggle against corruption and democratic governance.”

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