November 18, 2009

The Honourable Jim Flaherty, Minister of Finance, and the Honourable Leona Aglukkaq, Minister of Health, today announced that Iqaluit will be the site of the first key international meeting in 2010, of G7 finance ministers [and central bank governors]. The Nunavut event will be the first of a series of important global meetings in Canada in 2010, including G8 and G20 leaders’ summits in Huntsville, Ontario in June, and a meeting of G8 foreign ministers in Gatineau, Quebec in March.

“The February meeting will be informal, but focused,” said Minister Flaherty. “In an ever-changing global economy the G7 will continue to evolve, with a focus not on paper but on people—not communiqués and accords, but constructive and frank dialogue and continuing efforts to provide a collective economic boost to what are now truly global efforts.”

“At such an important and challenging time I could think of no better location for a global meeting focused on collaboration and resolving shared challenges,” said Minister Aglukkaq. “Throughout its long history the people of Nunavut and all of Canada’s North have demonstrated a community spirit and steadfast determination to overcome adversity. The strength and resilience found in this region are an essential part of what defines Canada, which is why I am so pleased that G7 nations will soon experience it firsthand.”

The meeting’s discussions are expected to focus on a number of key issues that have been at the heart of international meetings throughout the global economic and financial crisis:

• How to best introduce much-needed financial sector reforms;
• How to strengthen international financial institutions to enable them to better respond to economic volatility, while ensuring they better reflect the global economy of today; and
• How to ensure a sustainable international recovery.

Media accreditation and other logistical details for the February G7 meeting will be made available at a later date.