Home >News and events >Events >Commonwealth Finance Ministers Meeting 2016

Commonwealth Finance Ministers Meeting 2016

Finance Ministers will gather for the Commonwealth Finance Ministers Meeting (CFMM) on 6 October 2016, at the headquarters of the International Monetary Fund in Washington DC, USA.

This year’s CFMM will focus on topical issues arising from the international response to the Panama Papers as well as practical action to enhance Commonwealth access to climate finance and new financial instruments to help countries manage climatic shocks. The Finance Minister of India, Hon. Shri Arun Jaitley, will chair the discussions.

Professor Lord Stern, I.G. Patel Professor of Economics and Government, at the London School of Economics will deliver the keynote address on the economics of climate change, and the opportunities and challenges with financing climate adaptation and mitigation activities.

Lord Stern was the Head of the Stern Review on the Economics of Climate Change, a landmark study released by Her Majesty’s Treasury of the UK Government in October 2006. This Review, which assesses a broad range of evidence on the impacts of climate change and its economic costs, has since become one of the most influential reports on climate change.

Senior officials will meet on 5 October 2016, ahead of the ministerial meeting, to discuss practical action to advance domestic revenue mobilisation and diaspora finance flows, informed by member states’ experiences.

The meeting of Commonwealth Central Bank Governors, also held on 5 October, will focus on the impact of de-risking, the sharing of national and regional policy responses as well as action that should be taken by the international community. Governors will have the opportunity to engage with the US Treasury on this issue.

Central Bank Governors will also have the opportunity to provide their individual and regional perspectives on the impact of ‘Brexit’ and specifically the challenges it poses for monetary policy. The meeting will be chaired by Governor Enari from the Central Bank of Samoa.

Outcomes of these two meetings will feed into the CFMM agenda.


Meeting documentation and information are available on Commonwealth Connects

Latest news

Jury out on Brexit but calls for greater cooperation to undo de-risking 

Central bank governors have been hearing about the risks Brexit and de-risking poses for Commonwealth countries. READ MORE >>

Countries need debt repayment holidays after disasters, says new report

Countries significantly impacted by extreme weather should have a repayment holiday on government loans and bonds, a Commonwealth report has recommended. READ MORE >>

Commonwealth to be ‘honest broker’ as member states move from ‘shock to solutions’ after UK vote to leave the EU

We are ready to support countries through tough post-Brexit trade negotiations - Secretary-General. READ MORE >>

Commonwealth finance ministers address Brexit, climate and banking

Finance ministers, central bank governors and the Secretary-General will be in the American capital this week to respond to the biggest financial challenges facing Commonwealth countries. READ MORE >>

Hurricane Matthew: Secretary-General urges ‘solidarity and renewed resolve’

Hurricane Matthew threatens to inflict further severe damage on island nations of the Caribbean as it continues its path of destruction. READ MORE >>