Minister Champagne emphasizes Canada’s consequential G7 Presidency

December 19, 2025 – Ottawa, Ontario - Department of Finance Canada

The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, today co-chaired the last meeting of G7 Finance Ministers and Central Bank Governors under Canada’s G7 Presidency, alongside Tiff Macklem, Governor of the Bank of Canada.

The meeting included participation from the heads of the International Monetary Fund, the World Bank, the Organisation for Economic Co-operation and Development, and the Financial Stability Board. Ukraine’s Finance Minister Sergii Marchenko also joined part of the meeting.

The final meeting provided an opportunity for Canada to highlight the work and progress achieved in 2025 before officially handing over the G7 Finance and Central Bank track to France. Participants reiterated their unwavering support for Ukraine going forward as France assumes the rotating Presidency of the G7 in January 2026.

As Canada’s G7 Presidency concludes, Minister Champagne expressed his pride with the work accomplished during the year, notably at the May 2025 meeting of G7 Finance Ministers and Central Bank Governors held in Banff, Alberta.

The Banff meeting was marked by the endorsement of the G7 Finance Ministers and Central Bank Governors’ communiqué, which included agreement on supporting economic growth and resilience, fostering a stable financial sector, and support for Ukraine and developing countries. Participants also agreed to the G7 Financial Crime Call to Action, which commits to further advance tackling financial crime. Today, participants received an update on progress to date, including expanded information sharing within and beyond the G7 through joint projects to collectively remain vigilant of emerging risks. The G7 members also restated their commitment to continuing this work in 2026 under the French G7 Presidency.

Canada’s G7 Presidency emphasized strengthening global peace and security, particularly through sustained support for Ukraine and coordinated efforts to increase pressure on Russia through sanctions and other restrictive measures. The G7 also made significant progress on its commitment to pursue shared policy objectives, including supporting economic growth and resilience. Together, we worked to foster a stable financial sector that lays the foundation for long-term prosperity in all our countries, to develop stable critical mineral supply chains, to deepen our discussion on imbalances, and to increase our understanding of AI’s potential to boost productivity growth.

An important legacy of Canada’s Presidency is the launch of the Forum for Crisis Resilience in partnership with the World Bank Group—a three-year initiative to strengthen crisis preparedness and financial resilience in small and vulnerable countries.

Members also supported the expansion of the World Bank-led Resilient and Inclusive Supply-Chain Enhancement (RISE) Partnership to strengthen the integration of developing countries into critical mineral supply chains.

As a sign of its commitment to building a stronger global economy, Canada invited several non-G7 partners to ministerial meetings throughout the year, including six partner nations to the Finance Ministers’ meetings.