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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: APEC finance ministers to discuss global crisis AFP - Wednesday, November 5 TRUJILLO, Peru (AFP) - - The global financial crisis will be the main subject of discussion when APEC ministers meet Wednesday in preparation of a summit by their Asia-Pacific group to be held November 21-23. The ministers, along with other officials from the Asia Pacific Economic Cooperation, will hold two days of talks in Trujillo, a colonial-era town in northern Peru. They will be seeking consensus positions to allow the 21-nation group to discuss ways to confront the crisis, which has wracked markets and set the scene for a possible global recession. Javier Kapsoli, the head of the economic and social affairs unit of Peru's economy ministry, said the urgency of the financial turbulence had swept aside the original agenda for the meeting. Matters related to prices for food and commodities will be addressed, along with proposed reforms of capital markets and improved government spending, he said. "The crisis comes from a breakdown in poorly regulated markets," Kapsoli said. "I believe that if regulatory steps are made, with provision for credit, with strongly focused regulation of the financial system, it would be difficult for a collapse to occur," he said. Among the nations making up APEC are Australia, Canada, Chile, China, Indonesia, Japan, South Korea, Malaysia, Mexico, Peru, the Philippines, Russia, Taiwan, Thailand, and the United States. The Trujillo meeting will also see representatives from the Asia Development Bank, the World Bank and the International Monetary Fund taking part. Confirmed delegates from member states include the finance ministers from Australia, Canada, China and Singapore, as well as Chile's economy minister and the deputy finance ministers from Russia and Vietnam. US Treasury Secretary Henry Paulson will not be present. His country voted Tuesday for a new president to succeed George W. Bush. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Japan Hot Stocks-Bridgestone, Fast RetailingReuters - 38 minutes ago SNAPSHOT - Financial Crisis - 0012 GMTReuters - 48 minutes ago South Korean won jumps 3.5 pct vs dollarReuters - 50 minutes ago Seoul shares open higher led by exporters, banksReuters - 51 minutes ago Nikkei opens up 1.2 pct as exporters climbReuters - 51 minutes ago Most Popular – Business Viewed Americans flock to vote in historic elections Foods to prevent disease? DNA tests confirm death of millionaire flyer Steve Fossett Obama's grandmother, family 'rock', dies on election eve Australia anxious as Indonesia prepares to execute Bali bombers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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