Canada urges G20 to focus on crisis management

Sat Nov 8, 2008 6:45am EST
 
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SAO PAULO (Reuters) - Finance officials from around the world will discuss on Saturday a bigger role for emerging economies in the way global finance is managed but there is no need for new institutions, Canada's finance minister said.

"One of the points I'm going to make is that this is a time of crisis and it is perhaps not the right time to be looking at in effect constitutional issues, that we should be looking at practical, pragmatic approaches," Jim Flaherty said.

He also said finance officials attending an annual meeting of the G20 group of the world's biggest economies would set out principles for fiscal stimulus in different countries.

(Reporting by Louise Egan, writing by William Schomberg)