Scotland hosts G20 Finance meeting

58482207By: Arnold Bhebhe

G20 Finance Ministers and Central Bank Governors are meeting at St Andrews to continue talks designed to redraw the global finance system.

The latest meeting follows on from the April 2009 Crisis Summit in Pittsburgh, Germany, where G20 leaders pledged a US$1.1trillion rescue package for the world economy.

At the April summit, richer member nations concerntrated on measures to rescue their own damaged economies and prevent the collapse of the global financial system.

There are hopes this meeting will address the plight of poorer nations, which were not focused on at Pittsburgh.

Deanson Senda, a PhD student in Birmingham said: “We have been having this claptrap about rescue efforts and packages for Africa for much too long.

“What is clear is that these rich nations are mere talk shops designed to only window dress the plight of our long suffering people and other poor nations.”

Hayes Mabweazara a journalim PhD student at Edinburgh Napier said: “It’s still premature to draw conclusions.

“But, I think this time around, something positive will result for Africa because if it doesn’t, there could be a knock on effect on their economies the second time around.”

There are fears that in Africa the effect of the recession could be amplified by problems of mis-governance.

The World Bank is fighting that more help be given to Africa where only South Africa remains the only country in an organisation which seeks among other objectives to equitably distribute global wealth.

Member nations include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Soth Korea, Turkey, United Kingdom and US plus the European Union represented by the rotating council presidency and the European Central Bank.
G20 Finance Ministers and Central Bank Governors are meeting at St Andrews to continue talks designed to redraw the global finance system.

The latest meeting follows on from the April 2009 Crisis Summit in Pittsburgh, Germany, where G20 leaders pledged a US$1.1trillion rescue package for the world economy.

At the April summit, richer member nations concerntrated on measures to rescue their own damaged economies and prevent the collapse of the global financial system.

There are hopes this meeting will address the plight of poorer nations, which were not focused on at Pittsburgh.

Deanson Senda, a PhD student in Birmingham said: “We have been having this claptrap about rescue efforts and packages for Africa for much too long.

“What is clear is that these rich nations are mere talk shops designed to only window dress the plight of our long suffering people and other poor nations.”

Hayes Mabweazara a journalim PhD student at Edinburgh Napier said: “It’s still premature to draw conclusions.

“But, I think this time around, something positive will result for Africa because if it doesn’t, there could be a knock on effect on their economies the second time around.”

There are fears that in Africa the effect of the recession could be amplified by problems of mis-governance.

The World Bank is fighting that more help be given to Africa where only South Africa remains the only country in an organisation which seeks among other objectives to equitably distribute global wealth.

Member nations include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Soth Korea, Turkey, United Kingdom and US plus the European Union represented by the rotating council presidency and the European Central Bank.
G20 Finance Ministers and Central Bank Governors are meeting at St Andrews to continue talks designed to redraw the global finance system.

The latest meeting follows on from the April 2009 Crisis Summit in Pittsburgh, Germany, where G20 leaders pledged a US$1.1trillion rescue package for the world economy.

At the April summit, richer member nations concerntrated on measures to rescue their own damaged economies and prevent the collapse of the global financial system.

There are hopes this meeting will address the plight of poorer nations, which were not focused on at Pittsburgh.

Deanson Senda, a PhD student in Birmingham said: “We have been having this claptrap about rescue efforts and packages for Africa for much too long.

“What is clear is that these rich nations are mere talk shops designed to only window dress the plight of our long suffering people and other poor nations.”

Hayes Mabweazara a journalim PhD student at Edinburgh Napier said: “It’s still premature to draw conclusions.

“But, I think this time around, something positive will result for Africa because if it doesn’t, there could be a knock on effect on their economies the second time around.”

There are fears that in Africa the effect of the recession could be amplified by problems of mis-governance.

The World Bank is fighting that more help be given to Africa where only South Africa remains the only country in an organisation which seeks among other objectives to equitably distribute global wealth.

Member nations include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Soth Korea, Turkey, United Kingdom and US plus the European Union represented by the rotating council presidency and the European Central Bank.