REPUBLIKA.CO.ID, JAKARTA - G20 finance ministers meeting in Moscow, Russia, appoints Indonesian and Germany to co-chair Study Group Financing for Investment (SG-FI). The group will cooperate with World Bank, OECD, IMF, FSB, UN, UNCTAD and other international organizations to determine the future financing on infrastructure.

"Indonesia and Germany will report the development in the study group to finance ministers and central bank governors' meeting. It will become G20 commitment to be enacted on St Petersburg Conference next September 5-6, 2013," Indonesian Ministry of Finance stated on the press release on Monday. 

During the two-day G20 forum, Indonesia was represented by Minister of Finance Agus Martowardojo and Governor of Bank Indonesia Darmin Nasution. The release explains that the target of the study group is to cooperate with Organization for Economic Co-operation and Development (OECD) to generate main principles of long term investment financed by investor institutions.

G20 finance ministers meeting have pledged to crack down on tax evasion by multinational companies. The final communique said members were determined to develop measures to stop firms shifting profits from a home country to pay less tax elsewhere. The UK, France and Germany were the main movers behind the drive.

The communique, as cited from BBC, also said members would refrain from devaluing their currencies to gain economic advantage, amid fears of a new "currency war". The fears had been sparked by Japan's recent policies, which have driven down the value of the yen, aiding its exporters.

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