Also on the summit agenda is the challenge of financing the fight against climate change.

 

British Finance Minister Alistair Darling told delegates he hoped the ministers could agree on a framework for growth for the next decade. 

 

[Alistair Darling, British Finance Minister]:

"…just as we have shown in the last 12 months we can make a real difference when we are determined to do so. We also need to agree, I think, a framework that will allow us to ensure that we have growth over the next decade, because with growth will come jobs and will come the increasing prosperity upon which the people we represent depend."

 

The weekend's meeting follows policy decisions by the UK, United States and European central banks, expected to affirm their commitment to keeping interest rates ultra-low for the time being. 

 

While some countries have been clearly concerned about the weakness of the dollar and volatility in foreign exchange markets, currencies are not on the G20 summit agenda.

 

Countries are expected to sign up to a process where they submit their own projections for their economies that will then be assessed by the International Monetary Fund.

 

Any issues of incompatibility requiring policy changes would then be discussed. 

 

The first session of the meeting was to focus on financing moves to control climate change.

 

[Alistair Darling, British Finance Minister]:

However the first session is one which I want to devote to the question of climate change and in particular the financing for climate change and this is an urgent problem.”

 

Swedish Finance Minister Anders Borg on Friday called on the United States to make a commitment to financing the fight against climate change.

 

This would come after European leaders agreed on estimates of how much cash would be needed globally.