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G-20 meeting was very productive, says Manmohan Singh | | Prime Minister Manmohan Singh on Saturday described the G-20 meeting as very productive and said that a omprehensive discussion was held among the leaders on wide range of issues.
Addressing a press conference after the G-20 meeting Manmohan Singh said: "We
have had a very productive meeting in which there was a comprehensive discussion
among the leaders on a wide range of issues." He said that the summit was not
meant to be a trillion dollar summit and its purpose was to review what has happened
and chart the way forward. Manmohan Singh said that the meeting discussed the
issues relating to premature withdrawal of stimulus and seceded that there will
no premature withdrawal of stimulus. "The emergency financing for the fund has
been successfully completed. We now have to address the issue of the fund quota
increase by early 2011." "We have agreed to shift 5 percent share to countries
that are under-represented," he added. Manmohan Singh informed that Indian has
agreed to help the World Bank, and other regional development banks, to find the
necessary resources based on a review of their capital needs to be completed in
the first half of 2010. "We have agreed on a new framework for discussing global
macro-balances, and the contributions individual countries can make through their
own policies, with a new process of peer review or discussion in the G-20," Singh
said. The meeting discussed the important issue of climate change and called for
a successful outcome in the UNFCCC at Copenhagen. "We have agreed that we should
work for an early resolution of Doha to counter protectionism. The success of
the Delhi Ministerial meeting in reviving the process of negotiations was appreciated,"
Manmohan Singh said, adding, "We have agreed that the G-20 will henceforth be
the premier forum for international economic issues. This is an important development
broadening the global governance structure." |
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