US plans to reduce G-20 finance minister meetings as new chair

Washington is set to begin its turn as chair of the Group of 20 (G-20) by reducing the number of meetings of finance chiefs, people familiar with the matter said, in an apparent move to streamline the multilateral process.

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The US plans to forgo hosting a G-20 meeting of finance ministers and central bank governors typically held in February, the people said.

A White House official said a meeting would still take place in February with the participation of deputy finance ministers.

The G-20 framework generally entails dozens of working-level and ministerial discussions that culminate in a leaders' summit.

The finance ministers typically meet twice in the host nation and twice on the sidelines of International Monetary Fund and World Bank meetings.

Foreign ministers and trade ministers also typically hold separate meetings.