Finance Ministers of the Commonwealth will meet at the headquarters of the International Monetary Fund in Washington on October 6, to discuss the international, response to the Panama Papers.
This year’s Commonwealth Finance Minister’ Meeting (CFMM) will also discuss action to enhance Commonwealth access to climate finance and new financial instruments to help countries manage climatic shocks.
The Finance Minister of India, Arun Jaitley, will chair the discussions.
Professor Lord Stern, I.G. Patel Professor of Economics and Government, at the London School of Economics will deliver the keynote address on the economics of climate change, and the opportunities and challenges with financing climate adaptation and mitigation activities.
Lord Stern was the Head of the Stern Review on the Economics of Climate Change, a landmark study released by Her Majesty’s Treasury of the UK Government in October 2006. This Review, which assesses a broad range of evidence on the impacts of climate change and its economic costs, has since become one of the most influential reports on climate change.
Senior officials will meet on October 5, ahead of the ministerial meeting, to discuss practical action to advance domestic revenue mobilization and Diaspora finance flows, informed by member states’ experiences.
The meeting of Commonwealth Central Bank Governors, also held on October 5, will focus on the impact of de-risking, the sharing of national and regional policy responses as well as action that should be taken by the international community. Governors will have the opportunity to engage with the US Treasury on this issue.
Central Bank Governors will also have an opportunity to provide their individual and regional perspectives on the impact of ‘Brexit’ and specifically the challenges it poses for monetary policy.