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Ottawa, July 5, 2001
2001-061

Finance Minister Meets With Italian Minister of Finance

Finance Minister Paul Martin and his Italian counterpart, Giulio Tremonti, met today ahead of the upcoming meeting of Group of Seven (G-7) finance ministers in Rome, Italy, to discuss a range of shared bilateral and multilateral issues, including Canada’s assumption of the G-7 presidency from Italy next year.

"Canada and Italy have enjoyed a long history of mutual co-operation in a number of areas," Minister Martin said. "I welcomed the opportunity to hear Minister Tremonti's views on issues that affect both our countries."

In their meeting, the ministers discussed the global economic situation, reform of multilateral development banks, such as the World Bank, and the importance of spending on health and education in promoting economic development.

In addition, Ministers Martin and Tremonti both reaffirmed the important role played by the G-20 finance ministers and central bank governors, which Minister Martin chairs. The G-20 consists of finance ministers and central bank governors from 19 industrialized and emerging market countries as well as the Bretton Woods institutions.

The G-7 finance ministers meet Saturday in Rome. 

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