Work stuff : G20 today will determine our economic fate

Dear blogger ;

What happen in the G20 summit today will determine our economic fate.

On April 2, 2009, world leaders from the G20 countries will gather in London to continue a conversation they started in November 2008 in Washington, D.C. The G20 is a collection of some of the most powerful industrial countries, as well as some of the leading emerging economies such as China, Brazil and South Africa. In November, they gathered to address the ensuing financial crisis that, on top of the food and fuel crises of 2008, was devastating not only western capitals but developing countries around the world as well. At that time, the leaders discussed several ways to address the crisis and set a target to report back on progress by March 30.

Clearly critical issues need to be addressed in terms of how the financial crisis is affecting citizens at home -- through falling housing values, rising unemployment, and diminishing incomes. Yet the 1.4 billion people living in extreme poverty around the world will likely suffer worst of all if not taken into consideration. The IMF has warned that falling trade, remittances and foreign investment are threatening livelihoods in Africa. While social safety net programs and stimulus packages are implemented in developed countries, poor countries don't have the same options.

Above are brief information from the One.org ( global site that fight poverty all over the world ) that can remind us how important this meeting are. They also already publish a recommendation to all participants of G20 summit with the key recommendation is :

G20 leaders must include the poorest in any global solution to the current crisis, both because they will be hardest hit, and also because their economic growth can be part of the long term solution. The potential impact of the financial crisis on the poorest is significant, threatening to unravel major progress on development made in just the past few years. Solutions must focus on the needs of the poorest countries, which are different from those of advanced emerging economies. In order to do so, they must focus on the need to resource the appropriate institutions, to reform the way in which these institutions are governed and to regulate financial systems in a manner that addresses concerns of the poorest as well.

Let's hope at the night of 4 April 2009, the world have a true " win - win " solution for this global crisis.