Department of Finance Canada published a release after Finance and National Revenue Minister François-Philippe Champagne, alongside Bank of Canada Governor Tiff Macklem, co-chaired the final G7 Finance Ministers and Central Bank Governors meeting under Canada’s 2025 G7 Presidency, formally handing over the finance track to France. The meeting reviewed 2025 work, including an update on progress under the G7 Financial Crime Call to Action, and reiterated support for Ukraine. Heads of the International Monetary Fund, the World Bank, the Organisation for Economic Co-operation and Development and the Financial Stability Board participated, with Ukraine’s Finance Minister Sergii Marchenko joining part of the meeting. Canada highlighted priorities reflected in the May 2025 Banff communiqué, including support for economic growth and resilience, fostering a stable financial sector, and support for Ukraine and developing countries; members also discussed expanded information sharing within and beyond the G7 through joint projects to remain vigilant to emerging financial crime risks. The release also pointed to presidency initiatives including a three-year Forum for Crisis Resilience with the World Bank Group supported by CAD 12 million, CAD 2 million to advance the debt transparency agenda through capacity building, and CAD 20 million to support expansion of the World Bank-led Resilient and Inclusive Supply-Chain Enhancement partnership. France assumes the rotating G7 Presidency in January 2026, with members restating their commitment to continue the Financial Crime Call to Action work in 2026.
Department of Finance (Canada) 2025-12-19
Department of Finance Canada concludes its G7 finance presidency after final ministers and central bank governors meeting and handover to France
The Department of Finance Canada issued a statement after the final G7 Finance Ministers and Central Bank Governors meeting under Canada's 2025 G7 Presidency, co-chaired by Finance Minister François-Philippe Champagne and Bank of Canada Governor Tiff Macklem. The meeting reviewed 2025 initiatives, including the G7 Financial Crime Call to Action and support for Ukraine, and highlighted Canada's priorities like economic growth, financial stability, and expanded information sharing. Canada announced a CAD 12 million Forum for Crisis Resilience and CAD 20 million for the World Bank-led Resilient and Inclusive Supply-Chain Enhancement partnership.