Today, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, concluded a productive trip to Washington, D.C.
During his visit, the Minister co-chaired a meeting of G7 Finance Ministers and Central Bank Governors, alongside Tiff Macklem, Governor of the Bank of Canada. At the request of Canada, the Prime Minister of Ukraine, Yuliia Svyrydenko, was invited to participate in the meeting to provide an update on Ukraine's current situation and financial needs. This underscores the G7's strong and enduring support of Ukraine and its shared commitment to bolstering its resilience in the face of Russia's war of aggression. Members also discussed the challenges to global economic growth and the need to promote and advance more inter-G7 trade, with particular focus on imbalances and critical minerals.The Minister also participated in a G20 Finance Ministers and Central Bank Governors meeting and the Annual Meetings of the International Monetary Fund (IMF) and World Bank, and a ministerial roundtable to discuss support for Ukraine and cooperation for its economic recovery.
In addition, Minister Champagne led an outreach event with G7 Finance Ministers, Central Bank Governors and developing and emerging economies from Africa, the Pacific and the Caribbean, which focussed on ways to address debt sustainability and enhance crisis resilience. During this event, he announced that Canada was contributing $12 million to the World Bank Group to establish a new Forum for Crisis Resilience as well as $2 million to the World Bank's Debt Management Facility to enhance debt transparency.
He also held as series of bilateral discussions with his counterparts from Singapore, South Korea, the United Kingdom, and the United States, deepening economic ties.
Finally, the Minister hosted an event on artificial intelligence, financial crime and fraud, where global partners exchanged best practices.
