Replying to a question whether his relationship with other G20 leaders suffered because of some electoral setbacks back home, he said his relationship with some of the leaders was far better now than two years ago when he first took over the office.
Brazilian Finance Minister Guido Mantega touted the voice developing nations had in the G20 process and getting the Chinese delegation to change its mind. But he was hit with tough questions about the G20 process and whether it made any real difference to the world economy.
U.S. President Barack Obama said the G20 economies have been successful in putting the world economy back on the path of recovery, but admitted that the progress was not fast enough as expected, especially in creating more jobs.
The leaders of the G20 countries completed their summit in Seoul, South Korea with an agreement to push for “market-determined” currency exchange rates, to enhance exchange rate flexibility, and to establish a timetable to lay out “indicative guidelines” for global economies to confront trade imbalances by the first half of next year.
The G20 statement differs little from [that of ] the October meeting. The statement calls for market-determined exchange rates, gradual adjustments in imbalances and condemns trade protectionism
The Group of 20 at its summit in Seoul announced setting up of an SME Finance Innovation Fund with $ 28 million in fresh commitments and another $510 million drawn from their existing commitments in other funds.
Indian economy is likely to grow 8.5 percent in the current financial year and 9 percent in 2011-12, said Prime Minister Manmohan Singh on Friday in a speech at the plenary session of the G20 summit in Seoul.
The Group of 20 at its summit in Seoul is likely to commit millions of dollars fund to help finance small and medium enterprises and innovative financing models.
There has been “big progress” in the negotiations between world political leaders as they seek to hammer out an agreement and compromise on major economic issues on the final day of the G20 summit in Seoul, South Korea.
Carrying flags representing their various organizations, and hundreds of cardboard stop signs declaring Stop the G-20!, approximately 4,000 protestors marched Thursday afternoon from Seoul Station through the Dongsam-gu district shouting slogans and singing labor hymns, while thunder rolled, rain fell and a silent column of hundreds of riot police in yellow slickers and wielding neon batons kept pace along the marchers' flank.
Jim Cramer, a financial pundit and former hedge fund manager, said the best way of making money off the G20 Seoul summit is betting it won't go well. And one bets against the summit by buying gold, he said.
The global currency war will likely dominate discussions at the G20 Seoul summit. Other issues on the agenda include global financial regulation, development gaps, and dealing with disruptive capital inflow and outflows.
The G20 urgently needs to agree on steps to achive recovery from the global economic crisis, failing which children will be the most affected, says 'Save the Children', a UK-based non-profit organization, on the sidelines of the G20 summit in Seoul.
Moody's Investor Service upgraded China's 3 big policy banks and Chinese government's bond rating to Aa3 from A1.
The global slump has pushed 64 million people into extreme poverty or living off with less than $1.25 a day, says an estimate of the World Bank. Oxfam, another non-profit said its research showed 56 poor countries face a $65-billion fiscal hole in their budgets.
At the closing plenary session of the G20 business summit in Seoul, South Korea, David Cameron, the British Prime Minister, praised the host country’s miraculous economic advances and also highlighted some major themes underlying the purpose of the G20.
The joint statement by participating companies at the G20 business summit in Seoul, Korea, as of Nov. 11, 2010
G20 leaders say they want nations to coordinate economic policy, but even the host country is looking out for number one.
The Prime Minister of Australia, Julia Gillard, championed infrastructure investments across both the emerging markets and developed nations as a key part of maintaining a global economic recovery.
In a wide-ranging and rambling speech during a luncheon at the G20 Business summit in Seoul, Korea, Germany’s chancellor Angela Merkel called for a “sensible” exit strategy from the global credit crisis.
A big point of contention at the G20 Business Summit is how to reconcile the need for growth with the need to address environmental problems.
One of the most interesting – and perhaps under-reported -- aspects of the G20 summit in Seoul is the four female political leaders in attendance. According to press reports, no prior G20 summit has had this many women heads of state.
