Deputies working to deliver policy

THE Apec Finance and Central Bank Deputies’ two-day meeting in Port Moresby is expected to deliver a successful Finance Minister’s Process (FMP), a Treasury official says.
Treasury Department deputy secretary Manu Momo yesterday said PNG needed the support of all the Apec economies in that process.
Momo, while commending Vietnam for its expert hosting of the Finance Minister’s process last year, said PNG had sought to create a substantial and ambitious work agenda for 2018 with a range of deliverables which would be presented to PNG ministers in October.
“We will need to work hard to deliver as successful Finance Ministers Process as you did last year,” he said.
“I would like to welcome Chile as the Apec 2019 host. We look forward to working closely with you to ensure a smooth transition.
“We look forward to a constructive discussion and the sharing of knowledge expertise and experience across the Apec member economies.
“We will be seeking your support for the Finance Ministers Process 2018 work plan and for you to reach agreement on key aspects of the plan that will help advance our activities through 2018.
“I look forward to your shared goodwill and commitment and to make 2018 a successful year for the Finance Minister’s Process.”
Momo said there would also be discussions of the global economic and financial outlook following presentations by several international organisations and members would be invited to discuss the implications of the outlook for the economies and the work of the Finance Ministers Process.
He said the meeting would discuss the first priority area for Finance Ministers Process 2018 which was accelerating infrastructure development and financing.
Momo said they would look at implementing the Chebu action plan, international cash cooperation and transparency and advances financial inclusion.
The meeting will conclude with presentations on several other Finance Ministers’ Process initiatives, including Disaster Risk Financing and Insurance.