The financial crisis threatens to push 90 million more people into extreme poverty according to a report this month from UK Department for International Development.
For a crisis of this scale, we need a comprehensive global solution.
Last G20 Summit looks as though it made some real progress for the world’s poorest. Integrated into the leader’s agreement is recognition of the need to address extreme poverty as part of the global recovery. Instinct tells me that some of the vague language will take hard work to clarify, but this morning, as I re-read statements and news from yesterday, I have a sense of hope and cautious optimism.
Resources: The G20 announced US $50 billion for low-income countries—although we are concerned this includes existing funding—and a further US $100 billion in lending for development banks.
Reform: Developing countries will have some greater representation in the international financial institutions, and election to World Bank/IMF leadership will be based on merit.
Regulation: The G20 announced they would take action to regulate of illicit tax havens.
On top of that, all G20 countries re-affirmed their commitment to the Millennium Development Goals and commitments made at the 2005 Gleneagles G8 Summit.
Coming out of this summit, we need to work to ensure that money going to developing countries is given as grants, not loans that trigger another debt crisis. Also, much more needs to be done on the green agenda in the interests of developing countries at the UN Climate Change Conference in Copenhagen later this year.
But before we do, I want to thank you for your part in helping make this happen. Together, in the last few months, we’ve succeeded in encouraging Gordon Brown to invite the African Union to the G20, which sources say made a big difference in the final discussions. We also helped encourage President Obama to show global leadership on poverty. He remarked yesterday: “We are protecting those who don’t always have a voice at the G-20, but who have suffered greatly in this crisis. The United States is ready to lead in this endeavor.”
These are important achievements. I hope you are feeling the same sense of progress as I am, and are encouraged to continue this fight.
I can’t thank you enough,
Roxane Philson, ONE.org
P.S. To share your thoughts on the G20, get more detail on what they are doing for developing countries, and coverage from inside the G20, visit the ONE Blog:http://www.one.org/blog/g20-the-london-summit/?id=894-4038914-k.jhXhx&t=2
P.S.2 I remember that the F.A.O already warned us last year about this alimentary crisis to come. They stimate that 12billion $ should be given to minimize the impact. (only 2 have been given).
A related article: http://www.un-ngls.org/spip.php?article511