Transcript Document
| 1
PRIORITIES FOR AUSTRALIA’S G20 PRESIDENCY
AND THE GLOBAL FINANCIAL SAFETY NET
SEOUL G20 CONFERENCE
18-19 DECEMBER 2013
G20 Finance Track Priorities
Promoting stronger economic growth
Comprehensive
Growth Strategies
Macro
(monetary
and fiscal)
policy
Employment
Reforms to
boost trade
Priority
structural
reforms
Reforms to boost
employment and
participation
Sherpa track links
Investment and
Infrastructure
Reforms to
strengthen
investment
environment
across the G20
Multilateral
Development
Banks and the
Global
Infrastructure
Facility
Capital
markets and
intermediation
Project
pipeline and
preparation
| 2
Building resilience in the global economy
Tax
Financial
Regulation
Basel III
Too big to
fail
IMF reform – agreement to
15th general review
Base Erosion and Profit
Shifting
OTC
derivatives
Information Exchange and
Transparency
International
Financial
Architecture
Shadow
banking
FSB membership review
IMF quota resources
25
| 3
Per cent of world capital flows and GDP
Per cent
Per cent
1.2
2010 Quotas to
world GDP (RHS)
Quotas to 3-year moving average of
world capital flows (LHS)
Quotas to world GDP (RHS)
20
0.9
15
2010 Quotas to 3year moving average
0.6
of world capital
flows (LHS)
10
0.3
5
0
0.0
1990
Source: IMF
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
Official reserves
Per cent of GDP
Source: Thompson Reuters Datastream.
| 4
External assets and liabilities
Per cent of GDP, as at March 2013
200
Per cent
Per cent
200
Unhedged (foreign currency)
Hedged into AUD
AUD-denominated
150
150
100
100
50
50
0
0
Assets
Source: ABS Catalogue Numbers 5308.0, 5302.0.
Liabilities
| 5
Foreign currency exposure, by sector
40
Per cent
Gross exposure
Assets
Per cent of GDP, as at March 2013
Per cent
40
40
Liabilities
| 6
Net exposure
Per cent
Per cent
Before hedging
40
After hedging
20
20
20
20
0
0
0
0
-20
-20
-20
-20
-40
-40
-40
-40
Banks
Other financial Other resident
corporations
sectors
Source: ABS Catalogue Numbers 5308.0.
Banks
Other financial Other resident
corporations
sectors