G20 finance ministers and central bank governors arrived on Friday to hold discussions over how to deal with current financial crisis. The formal meeting will be held on Saturday.

The meeting, held in Horsham, southern part of England, is considered as a preparatory one to pave the way for G20 London Summit on April 2.

On Friday evening and Saturday, the finance ministers and central bank governors from both advanced economies and emerging and developing economies, will discuss such important issues as how to take short-term and long-term measures to deal with financial and economic crisis, how to reshape the global financial system and how to improve the role of the international financial institutions including International Monetary Fund.

Ahead of the G20 Finance and Central Bank Governors Meeting, divergences between the US and the European Union (EU) have emerged and gradually widened. The US hopes the London Summit will focus on how to increase spending to stimulate economy, while the EU wants to give priorities to reform the international financial system.

Therefore, finance ministers and central bank governors should try to remove these divergences in such a short time period so as to make good preparations for the London Summit, which is pinned great hope to create some clear and concrete measures to deal with the current crisis.