G20 to discuss safety net and development

Senior officials from the Group of 20 nations recently moved forward in setting the agenda for their leaders’ summit in November, including a proposed global financial safety net and development assistance. 

The sherpas from the advanced and emerging economies met in Seoul over the past week to plan for the Seoul Summit scheduled for Nov. 11-12.

During the four-day meeting, they discussed previous commitments regarding the framework for sustainable and balanced growth, financial industry regulations and the overhaul of international financial institutions. They also tried to advance new agenda items including the global financial safety net and development.

The meeting, co-chaired by Korean sherpa Rhee Chang-yong and South African sherpa Mandisi Mpahlwa, gathered about 100 senior representatives from the member countries and international organizations.

“The meeting of the sherpas went well in the sense that we were clear about what the agendas are for the Seoul Summit,” Mpahlwa told The Korea Herald after the meeting.