October 25, 2010 / 5:10 AM / 9 years ago

S.Korea says G20 plan on developing nations due

SEOUL, Oct 25 (Reuters) - In addition to endorsing recent agreements between top finance officials, G20 leaders are due to adopt an action plan to help develop poor nations next month, South Korea’s finance minister said on Monday.

But Minister Yoon Jeung-hyun did not say whether leaders from the Group of 20 major economies would come to any additional agreements for adopting current account surplus or deficit numeric targets when they meet in Seoul for a summit on Nov. 11-12.

“I expect a multi-year action plan on economic development for developing nations to be adopted at the Seoul summit,” Yoon said in a speech seen by Reuters due to be delivered at a conference.

He added that the leaders would also reach an agreement on International Monetary Fund voting quotas and governance reform and complete details on reforming global financial regulatory principles.

It was not clear whether additional IMF reform measures would be discussed. (Reporting by Yoo Choonsik; Editing by Chris Lewis)

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