国际英语新闻：G20 financial leaders meet in S. Korea to discuss financial reform

Local media also expect that leaders will not make much progress with regard to the bank levy issue, considering several countries, such as Australia and Canada, remaining firmly against the proposal, according to Yonhap News Agency.

However, the meeting will be mainly on enhancing global cooperation to clear out lingering uncertainty triggered by the eurozone fiscal debt problem and to fine-tune agenda items to be brought up at the Canada Summit later this month.

For the two-day meeting, around 260 officials from the 20 member countries gathered, among whom are Xie Xuren of China, Timothy Geithner of the United States, George Osborne of the United Kingdom, Naoto Kan of Japan, Wolfgang Schauble of Germany, Jame Flanherty of Canada, and Yoon Jeung-hyun of South Korea.

IMF chief Domonique Strauss-Kahn, World Bank President Robert Zoellick and OECD Secretary General Angel Gurria are also on the VIP list.

Ahead of the ministerial level forum, the Presidential Committee for the G20 Summit and the World Bank co-hosted a " Korea - World Bank High Level Conference on Post-Crisis Growth and Development," at which the leaders of the two organization met for open discussions.

Sakong Il, chairman of the South Korean Committee, and Ngozi Okonjo-Iweala, director of the World Bank, shared views on sustainable economic growth.