Sarkozy to lay out G20, G8 priorities on Saturday

22nd October 2010, Comments 0 comments

President Nicolas Sarkozy is on Saturday to lay out his priorities for when France takes over as head of the G20 group of rich and emerging economies in November and the Group of Eight in January.

The president will put his ideas to a summit of French speaking nations to be attended by 40 heads of state or government in the Swiss lakeside town of Montreux on Saturday, a presidential aide told AFP on Friday.

The president has three priorities, including reforming the international monetary system in the wake of the global financial crisis and overhauling the global raw materials market to fight against price volatility.

His other priority is to improve world governance by reforming the International Monetary Fund (IMF) and enlarging the United Nations Security Council, notably to include Africa.

France takes over the G20, the premier global economic forum whose members account for 90 percent of the world's gross national product and 80 percent of world trade, on November 12 after the group's upcoming summit in Seoul.

France will take over as head of the G8 of wealthy countries -- Britain, Canada, France, Germany, Italy, Japan, Russia and the United States -- also for a year, on January 1, 2011.

© 2010 AFP

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