Ahead of Thursday’s G20 meeting in London, Prime Minister Stephen Harper pushed stimulus, trade and financial system reform as his priorities at a working dinner held at 10 Downing Street on Wednesday evening.

“We must pursue a focused agenda that addresses the serious state of the global economy,” said Harper. “Canada has pursued unprecedented stimulus, removed barriers to trade and protected one of the strongest and best regulated financial systems in the world.”

The government stressed that the summit’s priorities should be: fixing the financial system to get credit flowing, including taking action on impaired assets and ensuring sufficient capitalization of financial institutions; coordinated stimulus; avoiding protectionism; and strengthening financial market regulation.

Additionally, Harper and finance minister Jim Flaherty pledged to bolster the resources of the International Monetary Fund, and they declared that Canada will be contributing US$200 million to the International Finance Corporation’s Global Trade Liquidity Program, an effort to provide increased liquidity in the trade finance market.

“Ensuring the international flow of capital and strengthening international trade are critical to bringing the world out of a global economic crisis,” said Flaherty. “Canada is fulfilling its G20 responsibility in providing the resources needed to help build a more stable global financial system and to speed global economic recovery.”

IE