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G20 leaders meet to assess global economic health

September 24, 2009 - UNITED STATES

The leaders of G20 countries will meet in Pittsburgh to assess the effectiveness of measures agreed at the April G20 summit. The growing swine flu epidemic could make the global economy even sicker, pushing the leaders into stronger measures than they agreed to at their April summit. They agreed on coordinated actions to revive the global economy, reform the financial sector, create an early warning systems, restructure the big international financial institutions, improve accountability and help developing countries.

The leaders of G20 countries meet in Pittsburgh to assess the effectiveness of measures agreed at the April G20 summit. The growing swine flu epidemic could make the global economy even sicker, pushing the leaders into stronger measures than they agreed to at their April summit. They agreed on coordinated actions to revive the global economy, reform the financial sector, create an early warning systems, restructure the big international financial institutions, improve accountability and help developing countries. The White House announced that Pittsburgh, a city of about 300,000, will host the G20 Summit, saying it was chosen because of its "commitment to employing new and green technology to further economic recovery and development." Mexico's lethal swine flu strain has killed tourism and commercial activity in Mexico City, a situation the many other countries with outbreaks are bound to experience. The real cost depends on how long the crisis lasts. ; The International Monetary Fund reported in April that it has raised its estimate for how much fiscal stimulus governments are injecting, and that these levels should be high enough to begin combating the worst global recession since 1930. In the richer countries of the G20 group, the commitments rise to 50 per cent of GDP, the IMF said in a recent report on levels of government stimulus to fight the recession. 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). ;

G Force (Economist 2 Apr 2009)

Taking the summit by strategy (Economist 8 Apr 2009)

Assessing the G-20 London Summit: Voices in Play (Brookings Institute 8 Apr 2009)

Date written/update: 2009-09-24