Finally, there have been concerns expressed about the growing G-20 agenda, particularly as it relates to issues that are considered to be the domain of organisations such as the United Nations (particularly on climate change issues). South Africa, while recognising this difficulty, supports an agenda that also focuses on development issues and climate finance is considered in this light.
The Strategic Review was necessary and useful in defining what needs to be done today. It is, however, the first step. Sixty years ago, the Fund was created to maintain a network of exchange rates anchored on the U.S. dollar backed by gold. There was also a mechanism to facilitate adjustments. Member countries were obliged to enter into annual consultations.