## All Eyes on Paris and the G-20

_IMF Blog, February 18, 2011_

## Source details

**Canonical URL:** [All Eyes on Paris and the G-20](https://www.imf.org/en/blogs/articles/2011/02/18/all-eyes-on-paris-and-the-g20)

## Other formats

- [Markdown version](/en/blogs/articles/2011/02/18/all-eyes-on-paris-and-the-g20/index.md)
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## Bibliographic details
- Authors: iMFdirect
- Published: February 18, 2011

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### International cooperation and historical context
- "Certainly the world did not end in 2008 with the collapse of Lehman and the crisis that followed. But, it didn’t mostly—perhaps only—because extraordinary international policy cooperation helped avert a far worse outcome." — Dominique Strauss-Kahn
- The IMF is "an organization of 191 countries, working to foster global monetary cooperation and financial stability around the world."
- The G-20 must "adapt to a new economic environment" and "prove that it is able to coordinate the economic policies of major economies on an ongoing basis." — French G-20 Presidency

### Context of the Paris meeting (February 18, 2011)
- G-20 Finance Ministers and Central Bank Governors gather in Paris for the first ministerial level meeting of France’s G-20 presidency.
- The meeting occurs "at a critical juncture" for the global economy, with "tensions and risks emerging that require strong policy responses," and is "critical for ensuring actions on international policy cooperation and reform."

### Major analytical contributions and viewpoints
- Dominique Strauss-Kahn:
  - Emphasizes uneven recovery: "global growth has resumed, it is uneven, both across and within countries."
  - Notes policy trade-offs: "While some advanced economies face high unemployment, some emerging markets face the challenge of overheating."
- John Lipsky:
  - Argues 2011 will be "a pivotal year for the global economic recovery and for international policy cooperation."
  - Observes that "the current state of the recovery makes the process of cooperation more complex."
- Olivier Blanchard:
  - Describes the recovery as "uneven or 'two-speed'" and identifies associated tensions and risks:
    - "re-emerging global imbalances"
    - "rising food prices"
    - "still high unemployment"
    - "widening inequalities"
  - Warns that left unresolved, these problems "could sow the seeds of the next crisis."

### G-20 agenda items and outputs
- Ministers and central bank governors "compromise to agree on indicators to measure global imbalances." (Communiqué referenced)
- Two priority items for the G-20 this year:
  - The "Mutual Assessment Process"
  - Reform of the international monetary system
- Purpose of these items:
  - "support an ongoing recovery and avoid future crises"
  - "ensur[e] a better outcome for all"

### Further notes and blog context
- IMFBlog is "a forum for the views of the International Monetary Fund (IMF) staff and officials on pressing economic and policy issues of the day."
- The IMF is "based in Washington D.C."
- "The views expressed are those of the author(s) and do not necessarily represent the views of the IMF and its Executive Board."

*Source: All Eyes on Paris and the G-20 (iMFdirect, February 18, 2011).*

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## References

- [Dominique Strauss-Kahn](http://www.imf.org/external/mmedia/view.aspx?vid=784704822001)
- ["right kind of recovery.](http://www.imf.org/external/pubs/ft/survey/so/2011/NEW021911A.htm)
- [John Lipsky](http://blogs.imf.org/bloggers/john-lipsky/)
- [pivotal year](http://blogs.imf.org/2011/01/04/2011%e2%80%94a-pivotal-year-for-global-cooperation/)
- [Olivier Blanchard](http://blogs.imf.org/bloggers/olivier-blanchard/)
- ['two-speed' recovery](http://blogs.imf.org/2011/01/25/two-speed-global-recovery-continues/)
- [podcast on rising food prices](http://www.imf.org/external/podcast/2011/Food_prices0211.mp3)
- [high unemployment and widening inequalities](http://www.imf.org/external/pubs/ft/survey/so/2011/NEW021611A.htm)
- ['Mutual Assessment Process'](http://blogs.imf.org/2010/08/26/a-problem-shared-is-a-problem-halved-the-g-20%e2%80%99s-%e2%80%9cmutual-assessment-process%e2%80%9d/)
- [reform of the international monetary system](http://blogs.imf.org/2011/02/10/stronger-financial-architecture/)
- [G-20](http://www.imf.org/external/np/g20/)

_Source: https://www.imf.org/en/blogs/articles/2011/02/18/all-eyes-on-paris-and-the-g20_