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The OECD was a participant in the G20 International Monitary System Working Group, sharing their 50 years experience with the OECD Code of Liberalisation of Capital Movements. The OECD also contributed to the G20 Action Plan in supporting the development of local currency bond markets.

 

INTERNATIONAL MONETARY SYSTEM


The OECD was a participant in the G20 International Monetary System (IMS) Working Group and the sub-group on Capital Flows Management under the French G20 Presidency. In July 2011, the OECD provided a report to the G20 IMS Working Group on the 50 years of OECD countries’ experience with sequencing liberalisation of capital flows and using capital controls under the OECD Code of Liberalisation of Capital Movements - an instrument for international co-operation.

Since May 2011, this instrument is open for adherence by non-OECD countries. The report also considers how structural reforms can promote financial integration, reduce global imbalances and limit volatility of capital flows and their potential adverse impact on the economy.

The World Bank Group, the IMF, the BIS and the OECD - which are members of the G20 Working Group on the International Financial Architecture, are implementing the G20 Action Plan to support the development of local currency market. This work is being carried out in co-ordination with the regional development banks (EBRD, ADB, IADB, AfDB) and the Bundesbank. 

The Action Plan has three pillars with OECD contributions to all of them. The OECD are contributing to the first pillar through the development of databases on Central Government Debt and African Central Government Debt.

On the second pillar, the OECD is covering the policy issues related to public debt management and government bond markets of the Diagnostic Framework.

The OECD is contributing to the third pillar on advisory assistance through its Global Forums, the OECD-Italian Treasury-WB Network for Public Debt Management in Emerging Markets and the Centre for African Public Debt Management and Bond Markets.


FINANCING FOR INVESTMENT

A diagnostic note on financing for investment was discussed at the Finance Ministers meeting in February 2013, and served as a basis to identify the priorities of G20 Members with regards to financing for investment for the G20 Summit.

The note has been prepared by various international organisations which were asked to lead part of the drafting. The OECD has led the work on the role of banks, corporate financing and institutional investors in long-term investment financing  as well as work on structural impediments to long-term financing.

In the run up the St Petersburg Summit, the OECD developed the High Level Principles of Long-Term Investment Financing by Institutional Investors which  will be delivered to the G20 Leaders. These principles present a comprehensive picture of the many different policy areas that need to be addressed in order to promote long-term investment financing by institutional investors.


 

HIGH-LEVEL ROUNDTABLE ON INSTITUTIONAL INVESTORS AND LONG-TERM INVESTMENT

OECD Headquarters

The OECD organised, together with the Russian G20 Presidency, a High-Level Roundtable on Institutional Investors and Long-Term Investment, held on 28 May 2013, in the margins of the OECD Ministerial Council Meeting.

The roundtable brought together representatives from high-level government and business to discuss policy measures and initiatives aimed at addressing constraints in long-term investment by institutional investors.

This rountable benefited from high-level and cross-sectoral participation and was an important milestone in the development of the High-level Principles for the Financing of Long-term Investment by Institutional Investors for the consideration of G20 Leaders at the St. Petersburg Summit in September.


OECD CONTRIBUTIONS TO G20