G20
Until 2008, the so called G20 (Group of 20) consisted of finance ministers and central bankers from the 20 biggest economies in the world serving as a negotiating forum for decisions on international economic and financial issues.
The G20 includes the G8 countries as well as the European Union but also big emerging markets like Brazil, India, China, Indonesia, Mexico, Saudi Arabia and South Africa. However, other big economies such as Spain are left out and no developing countries are represented.
The G20 emergency summit on 15 November 2008 in Washington was the first ever G20 summit with heads of state and government stressing the new importance of this forum under the current circumstances. At this summit, initial discussions took place on how to solve the international financial crisis. However, it became very obvious that the G20 are not interested in the fundamental reform of a system which caused this crisis in the first place.
In 2009, G20 leaders summits took place in London, UK, and Pittsburgh, US. Particularly ahead of the London Summit, UK civil society joined forces in collective campaigning and policy lobbying. Read more about the Put People First Platform
Korea chairing the G20 in 2010
Korea is chairing the G20 in 2010 with the first 2010 Summit to be held in Canada back to back to the G8 Summit on 26-27 June. The 2nd G20 Summit will take place on 11-12 November in Korea.
President Lee Myunk-bak said that the Seoul G20 summit will focus on transition to post crisis plans, post public stimulus – setting the post- crisis agenda as he puts it optimistically.
Other priorities of the Korean chair are:
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Implementing the Framework for Strong, Sustainable, and Balanced Growth
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Reform of financial regulations
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Reforms of the International Financial Institutions (IFIs)
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Trade – the “Doha Development Agenda” needs to be concluded by the end of the year
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International development (yet unclear what specific issues
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Idea of establishing a “Global Financial Safety Net” to regulate capital flows
Bond engagement around G20 Summits
Ahead of the 2009 G20 Summit in London, Bond chaired the Put People First Platform, a unique civil society alliance consisting of more than 160 development NGOs, trade unions, domestic poverty groups, environmental groups, faith based groups and many more calling on G20 leaders to "Put People First - Jobs, Justice, Climate".
In 2010, a policy group, co-convened by Bretton Woods Project and Bond, will be working on the G8 and G20 Summits and on reform of the global economic system.
Several joint advocacy activities are planned. Find out more on the G8/G20 Canada pages
