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Sun, October 24, 2021 | 06:13
No consensus on universal bank tax
BUSAN ― Finance ministers failed to reach consensus on universal bank levy during their meeting that ended here, Saturday.
Yoon relieved; Geithner piqued; Osborne (U.K.) learning and Flaherty (Canada) triumphant
Korea's Finance Minister Yoon Jeung-hyun, who chaired the Busan G20 meeting of finance ministers and central bank governors, said that the most significant outcome from the Busan meeting for him was the meeting itself ― that it was the first G-20 meeting to be hosted by an emerging market economy, and was held successfully.
Behind the scenes: G-20 Busan meeting
After talking about how Korea and African countries can complement each other in economic development, Ngozi Okonjo-Iweala, Nigerian managing director of World Bank, was happy to have a chance to talk about a more exciting topic ― the football.
Not returning to foreign exchange band
Minister of Strategy and Finance Yoon Jeung-hyun has made it clear that Korea will continue to float its currency on the open market even though there is growing skepticism on the safety of the country's currency exchange system in the increasingly volatile international financial market.
G-20 gives up on universal bank levy
The G-20 nations have abandoned the idea of adopting a global, universal bank levy system on financial firms and will allow each nation to set its own standard, if any, a senior Korean presidential aide said, Thursday.
Seoul to speak up for IMF reform at Busan meeting
After a tough ride on an airplane through heavy turbulence, passengers often give warm applause to their pilots and enjoy a certain feeling of caramaderie among themselves. "We have made it through together!" they may think. It is the comradeship that only a life-and-death situation can give.
Prof. Chang says it’s not time to tighten fiscal spigot
All eyes are on Greece and its fellow countries on the northern shore of the Mediterranean these days as that's where the next crisis, if it is to happen, seems to be brewing. Countries in Europe are faced with harsh cuts in their budgets in order to escape from the seemingly deadly trap of debt ― the so-called Era of Austerity is at the door.
Yoon to act as mediator in trans-Atlantic war
Every time a G-20 finance minister arrives in Busan, it could mean another headache for Yoon Jeung-hyun, Korea's strategy and finance minister.
Is finance minister too modest as G-20 host?
Yoon Jeung-hyun, the minister of strategy and finance, couldn't speak loudly enough so needed a microphone even though he spoke to reporters in a quiet room. Apparently he had a sore throat. In a hoarse voice, he talked about the pressure he feels in hosting the G-20 meeting.
G-20 to go after rating agencies
Strategy and Finance Minister Yoon Jeung-hyun hinted Tuesday at strong reform measures on the world's big three credit rating agencies at the upcoming G-20 meeting in Busan.
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