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Financial Post, Weekly edition, Fri 06 Jan 95, Keywords: Economic summits Government finance World Group of Seven

G-7 officials haggle over Canada meeting

Jill Vardy

Officials from the Group of Seven industrialized countries are trying to work out details for a meeting of G-7 finance ministers in Canada late this month or early February.

French Economics Minister Edmond Alphandery told reporters in Paris yesterday the finance ministers would hold a gathering in Canada around Feb. 10 or 12.

Toronto and Vancouver are both likely sites for a finance ministers' meeting, because of their large international airports with direct flights to the G-7 capitals. Alphandery suggested the meeting would be held in Halifax, but that has been denied by Canadian officials.

Ottawa's Finance Department wouldn't confirm a date or place for a possible meeting. An official said the seven countries are trying to find a date that accommodates all the ministers' schedules.

G-7 finance ministers often hold a meeting in advance of the summit of leaders, which will be held in Halifax in June.

Alphandery said in Paris that topics for discussion at the meeting include a review of the international monetary situation, including exchange rates, economic developments and plans for a new issue of special drawing rights to boost the reserves of developing countries.

Other likely topics on the agenda are a review of the Russian and Ukrainian economic situations, and discussions of the use of derivative instruments in financial markets.

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