The leaders of the G-20 group of the world’s 20 most important economies, meeting in Pittsburgh, Pennsylvania, have said that the grouping will become the world’s foremost economic coordination body, the White House announced late 24 September. This is a recognition of the importance of emerging economic powers such as Brazil, China and India. The G-8 comprised only the world’s top industrialized nations. In Pittsburgh the US is urging that institutions like the World Bank and the International Monetary Fund (IMF) reflect the changing economic circumstances as well. South Korea will preside the next G-20 meeting. Los Angeles Times, New York Times
Not enough of this around, says ILO
Geneva, Switzerland (GenevaLunch) – Unemployement levels in G-20 countries would be between 29 and 43 percent higher without the economic stimulus packages put in place by most governments following the economic crisis unleashed by the fall of investment bank Lehman Brothers one year ago, the International Labour Organization (ILO) announced today 21 September. The ILO still foresees the number of unemployed globally at between 219 and 241 million people, an increase of between 39 and 61 million unemployed.
