Friday, November 14, 2008

World’s financial powers meet to fix economies

Gautam Chikermane
New Delhi, November 14, 2008
With an economic contraction looming, Prime Minister Manmohan Singh's trip to Washington DC to attend a global financial summit on November 15 seems a little odd. But when the epicentre of the contraction lies in the credit crisis of the US, that's the only logical destination.
Singh is one of 20 heads of state of the world's wealthiest countries and emerging financial powers — the G20 — getting together to fix their economies. But the Summit on Financial Markets and the World Economy that begins two days later will look beyond financial markets.
“I will put forward our views on the need for greater inclusivity in the international financial system, the need to ensure that the growth prospects of the developing countries do not suffer, and the need to avoid protectionist tendencies,” Singh said in a statement before his departure.
Story in Hindustan Times, November 14, 2008

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