The G-20 Finance Ministers and Central Bankers met in Paris, France last week, on February 18-19, 2011.

The [Communiqué]( released post the event referenced the work of the Global Forum’s Peer Review Group and the release by the [Financial Action Task Force](,3746,en_32250379_32236920_46266908_1_1_1_1,00.html) (FATF) of a public list of jurisdictions with strategic deficiencies, as well as the list of jurisdictions evaluated by the [Financial Stability Board]( (FSB):

*“We reiterated our call to improve compliance with international standards and strengthen the process of identifying non-cooperative jurisdictions. We look forward to the forthcoming update by FATF of the public list of jurisdictions with strategic deficiencies and to a public list of all jurisdictions evaluated by the FSB ahead of the next G20 Leaders Summit. We welcome the 18 peer reviews issued by the Global Forum on Transparency and Exchange of Information and urge all jurisdictions so far identified as not having the elements in place to achieve an effective exchange of information to promptly address the weaknesses. We look forward to the progress report by November 2011, based on the expected completion of around 60 phase 1 reviews, to address in particular the jurisdictions’ quality of cooperation with the Forum, level of compliance and unsolved deficiencies. We call upon more jurisdictions to join the Global Forum and to commit to implementing the standards. We urge all jurisdictions to extend further their networks of Tax Information Exchange Agreements and encourage jurisdictions to consider signing the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.”*

The G20 was established in 1999, in the wake of the 1997 Asian Financial Crisis, to bring together major advanced and emerging economies to stabilize the global financial market. Since its inception, the G20 has held annual Finance Ministers and Central Bank Governors’ Meetings and discussed measures to promote the financial stability of the world and to achieve a sustainable economic growth and development.