However the divided nature of the G20, and even the G8, on matters related to deficit reduction and stimulus measures means that Brazil might have to compromise on a deficit reduction target if it is to get recognition of the importance of stimulus measures in the medium term. [...] 1 The G20 reiterates the importance of furthering IFI reform AND adopts an action for voice reform in the IMF and the World Bank AND adopts an action plan with regards to a competitive process in picking IMF and World Bank Heads AND calls for further discussions on for increasing the voice of developing countries at the IMF And World Bank. [...] Further, China has committed to a number of G8/G5 initiatives, such as the 2009 L‘Aquila promise to partake in a ―global recovery agenda for 18 balanced, inclusive, sustainable growth.‖ At a press conference by the Chinese G20 delegation for the 2009 Pittsburgh Summit, the director-general of the Department of International Organizations and Conferences of the Ministry of Foreign Affairs, Wu Hailo. [...] 14 In the released communiqué at the conclusion of the 2010 G8 Summit in Muskoka, the members of that organization renewed their commitment to the resistance of protectionist pressures and 39 the promotion of liberal trade and investment. [...] Working with the Finance and Energy Ministers, the declaration noted the ―implementation of strategies and timeframes, based on national circumstances, for the rationalization and phase out 81 over the medium term of inefficient fossil fuel subsidies.‖ However, India‘s priorities related to new and renewable sources of energy were not included, assigning the objective a score of 0.25.
Authors
- Pages
- 34
- Published in
- Russia
