section_path: First career in Norwegian politics (1990 – 2013)/Policies as Prime Minister/Financial crisis
section_name: Financial crisis
paragraph_text: Financial crisis
  
  Stoltenberg took an international role during the financial crisis by promoting international financial cooperation. This was among other arenas done through the International Monetary Fund (IMF) and a meeting in Chile 27–29 March 2009 where social democratic leaders from around the world met at a Progressive Governance Conference, just prior to the first G20 summit on the financial crisis. President Bill Clinton was among the delegates and panel that would chart a way out of the financial crisis, which included the host Michelle Bachelet, Britain's finance minister Gordon Brown, Brazil's President Lula da Silva and Stoltenberg. A special emergency meeting of the European Social Democratic Forum (PES) was gathered in Oslo in May 2011, on an initiative from Stoltenberg and the think tank Policy Network.
  
  Both nationally and internationally, Stoltenberg emphasised the enormous costs the financial crisis had in the form of a high unemployment rate, and appealed for better international coordination, the balance between austerity and economic growth stimulus, active labor market measures for young people, and investments for increased innovation. Norway came out of the financial crisis with the lowest unemployment rate in Europe.