G-20 Nations Agree to Freeze Terrorist Assets and IMF Will Provide Technical Aid

On November 17, 2001 a group of 20, which includes top economic officials form industrial countries and some emerging markets, such as Brazil, South Korea and South Africa, agreed on an ?action plan? aimed at blocking of actions that it asked member countries to take by February 1 and directed the IMF to provide technical assistance to jurisdictions requiring help in complying. While the final communique of the annual meeting mentioned the effort to combat terrorism financing, some countries had hoped the IMF would adopt a more proactive role, helping coordinate the efforts of various watchdogs. The G20 Group will strengthen their cooperation on the international exchange of information, including actions taken under the UN resolutions. The G-20 will promote the effort to combat terrorist financing within their respective regions, and will request other countries to join the Action Plan. The G-20 Group calls on the regional style-FATF bodies to meet promptly and extend their mandates to include terrorist financing.