Archive - Apr 3, 2009
Translating the G20's Talking Points
Leaders at yesterday's G20 summit in London affirmed a commitment to bailing out developing countries. Just how is this plan spelled out? Change.org blogger Michael Kleinman was at the meeting and conveniently excerpted the sections of the G20 Communique that speak to the needs of the world's poorest nations.
Included in the Communique's promises:
$50 billion to support social protection, boost trade and safeguard development in low income countries, as part of the significant increase in crisis support for these and other developing countries and emerging markets;
Social protection for the poorest countries, including through investing in long-term food security and through voluntary bilateral contributions to the World Bank’s Vulnerability Framework, including the Infrastructure Crisis Facility, and the Rapid Social Response Fund;
The use of additional resources from agreed sales of IMF gold, together with surplus income, to provide $6 billion additional concessional and flexible finance for the poorest countries over the next 2 to 3 years.
For a candid, on-the-ground synopsis of the summit, check out G20Voice, a group of bloggers from 22 countries who had all-access passes to the summit. G20 voicers feverishly posted photos, video and audio clips that highlight discussions most relevant to poor countries.
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