Australian PM, Julia Gillard, briefs on the IMF and trade
Representatives from the G20 Research Group were in attendance today as Julia Gillard, Prime Minister of Australia, briefed the media contingent assembled at the International Press Centre in Cannes, France.
Speaking to the Eurozone crisis that has garnered much coverage during the summit, Gillard remarked that non-European G20 countries such as Australia have their own roles to play in bolstering and supporting Europe.
Gillard then spoke to the need for enhanced IMF resourcing intended to send confidence to markets and reassure the global community that the IMF has adequate resources to handle global issues. Gillard, whose country of Australia ranked first overall in the latest G20 Research Group Compliance Report released yesterday in the same briefing room, reiterated the need for countries to act rather than merely talk. It must be ensured, she stressed, that the IMF be provided with enough resources to respond to global crises.
When asked by a reporter how other countries had responded thus far, Gillard noted a “broad view there must be additional IMF resourcing” and pledged to work on it overnight and tomorrow morning.
Gillard went on to speak of trade negotiations, commenting that it is imperative the international community get beyond its “gridlock” in this area. Trade was the lowest ranked commitment in the G20 Research Group’s latest compliance report, having achieved a compliance score of only 48%. Gillard suggested a segmented-structured round may be pursued this time. She reaffirmed her commitment to giving free market access to the least developed countries. She asserted that Australia is a “free trading nation with nothing to lose from free trade.”
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