Rich Nations, Poor Nations in New York Discussions
The Rich nations (G20) and Poor nations (B30?) are in New York discussing the impact of the economic downturn (2009) for the very first time.
With such a disparity between the richest and poorest – on the opposite ends of the global scale, if you had expected very opposite complaints and claims, you would have been correct.
The Summit was called and organized, but the outcome is still moot – seriously.
Here’s what Laura Trevelyan, UN correspondent, BBC News has to say about the unfolding events…
[The less well-off nations wanted their own financial stimulus, relief on their debt repayments, greater UN control over the World Bank and the International Monetary Fund and a follow up conference to make sure anything agreed at this one was acted upon.
The richest countries were wary of spending extra money, and fought against greater UN control over the financial institutions.
The outcome is a fudge.
There is a call for the 20 wealthiest countries to consider giving extra money to impoverished nations, a commitment to a follow-up working group and vague language on debt relief.
Critics say this is a missed opportunity because there is no immediate action to help those in greatest need, while supporters say this conference has given a voice to the developing world.] Read More.
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fluflaken