Finance ministers and central bank chiefs from the world's leading economies wrapped up their annual G20 summit in Melbourne on Sunday, turning their focus to International Monetary Fund reform after a day of discussions on global energy markets and economic conditions. The meeting, hosted by Australian Treasurer Peter Costello, drew representatives from 20 countries and the European Union, collectively accounting for 85 percent of the global economy.
Costello noted broad agreement that the IMF must be restructured to reflect shifts in the global economic balance, crediting G20 momentum for reforms already achieved. Delegates also agreed on the need for substantially greater investment in resource projects to meet surging demand from China and India.
Outside the Grand Hyatt Hotel, where the summit was held behind security barriers, roughly 2,500 protesters gathered Saturday, including anarchists, anti-war groups, and left-wing activists. Some demonstrators kicked police horses, damaged vehicles, and turned a fire hose on officers, forcing a mounted patrol to withdraw. Many protesters wore identical white suits and covered their faces to avoid identification in police footage.
Melbourne Police Commissioner Christine Nixon urged peaceful demonstrators to avoid the area entirely, saying authorities were preparing for the worst.
Historical summary. TurkishPress restated this wire report, first published in November 2006, in its own words.