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Rising food and fuel prices take centre stage when Commonwealth Finance Ministers meet in Saint Lucia from Oct 6th to 8th


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Contact: Chris Satney

 

Tuesday, 30 September 2008 – Commonwealth Finance Ministers are just days away from a high level meeting in Saint Lucia to discuss the implications of rising food and fuel prices on their economies.  The annual meeting, to take place at the Sandals Grande St. Lucian from October 6th – 8th, brings together ministers, senior finance officials and delegates from the 53 member countries.

 

The talking point is right down the alley of world discussion on finding solutions to the impact of rising prices on economic and social development, particularly in the developing world.  It is expected that the discussions will enable Commonwealth Finance Ministers to identify short and long term policy responses to the fuel and energy crisis, not least by sharing their comparative experience.

 

Ministers will also discuss the ongoing Commonwealth call for the reform of international institutions, following the mandate given by Heads of Government at their meetings in Kampala in 2007 and in June this year. The focus of their discussions will be to continue Commonwealth efforts to promote deeper reforms in the World Bank and IMF.

 

They will also follow up on their discussions of 2007 on the economic implications of climate change, through assessing the impact of climate change on the trading prospects of Small States.

 

The Commonwealth Finance Ministers' meeting follows a meeting of Commonwealth Civil Society Representatives months ago in Saint Lucia on the chosen theme, and Commonwealth officials hope this will drive the discussion of next week’s meeting.

 

The meeting traditionally takes place just before annual meetings of the International Monetary Fund and World Bank in Washington, allowing Commonwealth Ministers to take joint concerns and positions into those meetings.

 

The meeting’s opening ceremony will take place on the evening of Monday 6th October at the Sandals Grande Saint Lucian Spa and Resort and will be addressed by Prime Minister of Saint Lucia Honourable Stephenson King. The opening will be followed by two days of intense discussions, on the 7th and 8th of October, on the theme: “The Implications of High Food and Energy Prices for Economic Management.”

 

The Commonwealth Secretariat, in its facilitation of journalists’ effective coverage of the meeting, has teamed up with the Government Information service (GIS) of Saint Lucia to host a workshop for participating media personnel. The forum scheduled for Sunday October 5th at the Palm Haven Hotel will be facilitated by foreign and local specialists in media and journalism.


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