Manual positive with G20 summit decisions

By Mishkah Anthony
16 March 2009

Ministers from the Group of 20 industrialised and emerging market countries were locked in talks this weekend, attending a G20 summit on how to deal with the economic crisis.

This just month before a world leader’s summit in April.

Meanwhile it was reported that the British government denied that there is a major division between countries attending the summit.

This as British diplomats had to play down a leaked document that stated Australia was one of the low- priority countries attending the summit.

Meanwhile Finance Minster Trevor Manual was the only representative from Africa at the summit. Manuel says the G20 finance ministers' agreement to give more money to multi-lateral development banks will play a strong role in dealing with the global recession.

Manuel told media that it was less about the amount of money pumped into the system - it is a sense of responsibility and collegiality about how you deal with these issues going forward

Furthermore the G20 group has vowed to cut interest rates and guard against protectionism to pull the world economy out of recession.

With divisions between the United States and Europe over priorities for rescuing the global economy, the finance ministers from the club of 20 vowed to do whatever it takes at the meeting in Sussex in southern England.