Mexico's Finance Minister Jose Antonio Meade said here Friday the world needs Group of 20's strong leadership, more decisive and timely response to the challenges the global economy currently faces.
"The G20 stands at the heart of the most critical economic challenges facing the world today," said Meade at a seminar of the Institute of International Finance ahead of the G20's finance ministers and central bankers meeting at the weekend.
According to the minister, G20 is the best forum for broad economic dialogue, building cooperation and reaching consensus.
"Through G20 we have the opportunity to build bridges, channels of communication among nations and sectors. We have a shared responsibility to protect and nurture it," he said.
Meade called on G20 members to strengthen international and regional financial institutions, define concrete steps to improve global governance, explore, assess and implement policies to foster market confidence and keep the right balance between strengthening regulatory supervision and promoting recovery.
"The G20 also needs to continue working on energy and food access and commodity as well as price volatility," said Meade.
During the two-day meeting, the G20 members will discuss how to strengthen the support mechanism of the International Money Fund against the eurozone debt crisis, which is considered a threat to the global economy.
The finance ministers and central bankers will discuss the global economic issues behind closed doors./.