• Meeting will be opened by the Vice Minister of Economy and Finance of Peru, Eduardo Morón

During the second day of meetings at Gran Hotel El Golf of Trujillo, Vice Ministers of Finance of the 21 Economies of the Asia-Pacific will start the meeting analyzing the global financial crisis and price volatility of food prices at regional and global levels.

Together with APEC Economies vice-ministers, Senior Officials from International Finance Organizations, such as the World Bank, the International Monetary Fund, the Asia Bank of Development and the Andean Corporation form Promotion, will also attend.

One of the main topics of these meetings is the improvement of the quality of public expense. This can be achieved through mechanisms such as results-based budgeting, Peruvian proposal for the Asia-Pacific Economies that consists in setting qualitative goals to the allocated budgets at each project. This aims to maximize the benefits for the Government and the citizens.

Another agenda item for APEC Vice Ministers of Finance is the revision of the Ministerial Declaration Draft. This document will be read as a conclusion of the Financial Meetings.

In the following days, we will have the visit from the Minister of Economy and Finance of Peru, Luis Miguel Valdivieso, who will chair the XV Financial Ministerial Meeting to be held on November 5 and 6, 2008.