February 10, 2006 Statement by G8 Finance Ministers G8 Finance Ministers met in 1. Overall global growth remains solid and this is expected to continue in 2006. Risks remain, including high and volatile energy prices. We agreed that further progress needs to be made in implementing policies that contribute to the gradual resolution of global imbalances and promote sustainable growth of the global economy. 2. We reaffirm that an ambitious outcome to the Doha Development Round by the end of 2006 is essential to enhancing growth and reducing poverty. Following the Hong Kong Ministerial Meeting, we recognize that further efforts are needed. We urge all participants to agree on a comprehensive package that achieves significant progress in agriculture, industrial products, services, including financial services, intellectual property, and WTO trade rules, and that addresses the concerns of developing countries, in particular the least developed countries. These countries also need substantial aid for trade to help them take advantage of general liberalization. 3. We reviewed the global energy outlook and welcomed the decision to focus on energy security for the G8 summit in 4. We call on the World Bank to work with low-income countries to develop country-specific energy strategies to help them achieve the Millennium Development Goals. The initiative launched by a number of donors and IFIs on infrastructure will complement this work. We look forward to the launch at the Spring Meetings of the World Bank led framework to enhance investment in low carbon energy and energy efficiency in developing countries with the full participation of Regional Development Banks. We welcome the creation of the IMF's Exogenous Shocks Facility (ESF) to provide policy support and address financing requirements of energy-poor developing countries. We welcome financial commitments already made to the ESF and encourage other donors, including oil producing countries, to make contributions. We reiterate our commitment, after the 2005 Gleneagles 5. We recognize the importance of the development agenda and call for full implementation of commitments made on the Multilateral Debt Relief Initiative, aid effectiveness, and increasing resources for development. Specifically, we support the decision by the IMF Board to implement 100 per cent debt relief and the cancellation of the debts of 19 countries at the beginning of 2006 and encourage IDA and AfDF to finalize urgently all necessary steps for implementation. We welcome the fact that 6. We also welcome that 7. We acknowledge the risk of a possible avian flu pandemic and its potential economic and financial impacts. We welcome progress made at the donors' conference in 8. We welcome progress made in combating money laundering and terrorist financing and commit to continue our support for regional cooperation. We also commend the active role and strong leadership by 9. We welcome
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