G20Voice bloggers blogging away at G20 Summit

So Barack Obama and other world leaders declared the G20 meeting of the countries comprising 80% of the world’s economy a success. I think that’s probably true overall. Yet the proof will be in the pudding as they say as words turn into deeds and hope turns into change people can feel. Oxfam estimates that 100 million people will be driven into poverty in 2009 alone. That’s a lot of people — there’s the real threat not only of hunger, homelessness, disease and more but also of destabilization of entire nations. 

Here’s Oxfam’s take from their From Poverty to Power blog:

Our overall analysis is that the Summit itself could prove an historic moment in a critical year for the twin crises of climate change and economic meltdown. It could mark a global power shift towards the large developing countries such as China, India and Brazil, and the partial eclipse of the old G8 club. The decisions and declarations were, as with any such event, a mixed bag.

The G20 ended on a note of high optimism that the rich countries were prepared to dig deep to find a significant fiscal stimulus to help poor people and countries, and that the ‘casino capitalism’ of the last 35 years was to be reined in, and the vital role of states in promoting equity and economic justice be fully acknowledged.

Alas, bitter experience tells us that the euphoria at such events too often sours, as big numbers magically melt away or prove less generous under scrutiny, and as the long slog of implementation proves much harder than ringing declarations by sleep-deprived politicians. Moreover, in the middle of the worst economic crisis in 60 years, politicians need to be held to more demanding standards of leadership than during ‘peacetime’. While those present may have breathed a sigh of relief that the summit achieved more than the low initial expectations, the truth is that real results are likely to fall far short of the hopes of transformational change that were widespread at the end of 2008. The true test of the London Summit lies in what happens next, particularly in the crucial rounds of global diplomacy during the rest of 2009.

Here’s the 411 from ONE Campaign:


“Yesterday’s G20 Summit looks like it made some real progress for the world’s poorest. Caution tells me that some of the vague language will take hard work to clarify, but this morning, as I re-read statements and news from yesterday, I am filled with a sense of hope and optimism.

Highlights include:

Resources: The G20 announced US $50 billion for low-income countries – although we are concerned this includes existing funding – and a further US $100 billion in lending for development banks.

Reform: Developing countries will have greater representation in the international financial institutions and that election to World Bank/IMF leadership will be based on merit.

Regulation: The G20 announced regulation of illicit tax havens.

As with all summits like the G20, we’re left with just as much work coming out of the summit as we had going in. We need to work to ensure that money going to developing countries is given as grants, not loans that trigger another debt crisis. Also, much more needs to be done on the green agenda in the interests of developing countries at the UN Climate Change Conference in Copenhagen later this year.”

Related Posts with Thumbnails