6-7 Nov 2009 G20 finance ministers and central bank governors meetG20 finance ministers and central bank governors meet with a long agenda in St. Andrews, Scotland, on the 10th anniversary of their first meeting.
They will be expected to move ahead on the decisions taken at two G20 crisis summits in 2009. The leaders have agreed to changes in the global financial architecture to battle the global recession, and have also pledged a US $1.1 trillion injection into the world economy. It will be up to the ministers to help turn the agreements into results.
At the April G20 meeting, the richer member nations concentrated on measures to rescue their own damaged economies and prevent the collapse of the world financial system.
At the April G20 meeting, the richer member nations concentrated on measures to rescue their own damaged economies and prevent the collapse of the world financial system.
There have been many calls to spread the help to poorer countries, where the recession could have deeper and more serious effects. The World Bank wants more help for Africa, in particular.
If the World Bank prevails, the September summit will be a development summit that looks at providing help to countries at risk of stability political instability because of the economic crisis.
The G20 has altered the landscape of international trade relations, and the negotiating process under the ambit of the World Trade Organization. It now has to counter a tide towards protectionism, a by-product of the economic crisis.
The Group of Twenty (G-20) Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy.
The G20 has altered the landscape of international trade relations, and the negotiating process under the ambit of the World Trade Organization. It now has to counter a tide towards protectionism, a by-product of the economic crisis.
The Group of Twenty (G-20) Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy.
The inaugural meeting of the G-20 took place in Berlin, on 15-16 Dec 1999, hosted by German and Canadian finance ministers.
The G20 nations are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States, plus the European Union (represented by the rotating Council presidency and the European Central Bank).
The G20 nations are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States, plus the European Union (represented by the rotating Council presidency and the European Central Bank).
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