ARGENTINA AND ENGLAND VS FMI
Argentina and Great Britain will seek radical reform of the International Monetary Fund and the World Bank at the High Meeting of G20 in London that will be on April 2 and 3rd 2009 . Argentine President Crstina Kircher and U.S. President Barack Obama will also meet for the first time at the G20.
Last Thursday British envoy Lord Mark Malloch-Brown Buenos Aires to prepare for the meeting. The hope is to be unified at the G20 because the last meeting, in Washington, ended on a disappointing note. Back then, the economic crisis was limited to the financial sector. Today, matters are far more complex, with the world facing a global recession that is expected to increase. An estimated 20 million people are unemployed in China alone.
England and Argentina are expected to push for the release of more financial resources by the World Bank and the FMI.
One problem is that many nations talk about free trade but then regulate imports and exports. Still to be seen, what Obama will offer as his plan to right the global economic boat.
One problem is that many nations talk about free trade but then regulate imports and exports. Still to be seen, what Obama will offer as his plan to right the global economic boat.
The relationship between Argentina and England is relatively good with the notable exception of the issue of control of the Malvinias Islands, a topic the British don't want to broach with Argentina. It's likely that issue will, however, be put aside so that the focus can be on the more immediate problem of the global economy.
SOME OPINIONS ABOUT WORLD ECONOMIC FORUM
http://www.weforum.org/en/events/WorldEconomicForumonLatinAmerica2009/index.htm
"Facing the Slowdown, Reforming for Tomorrow"
High commodity prices, favourable financial conditions and the hard-won economic reforms of the 1990s boosted regional economic growth to an average of 5% in the past years, with low inflation and strong current account surpluses.
Besides dealing with the international financial turbulence and possible volatility in commodity prices, the greatest challenge for Latin America is still to harmonize economic expansion and social progress.
For more information about the World Economic Forum on Latin America 2009, please contact:LatinAmerica@weforum.org
Quotes
Now more than ever it is critical to increase our understanding of the determinants of economic growth in the Latin American region.
Javier Santiso, Director and Chief Development Economist, OECD, Paris
A successful regional integration process in the current international context should pay close attention to competitiveness, export diversification and innovation.
Alicia Bárcena, Executive Secretary, ECLAC
Latin America is faced with the twin challenges of poverty and inequality, but it is now better equipped to handle them.
Pamela Cox, Vice-President for Latin America and the Caribbean, World Bank
Brazil and Latin America are not a problem, but a solution for the challenges of the world. Considering the natural resources, mature institutions and qualified human resources, we are ready to receive investments and answer to the needs of the market.
Javier Santiso, Director and Chief Development Economist, OECD, Paris
A successful regional integration process in the current international context should pay close attention to competitiveness, export diversification and innovation.
Alicia Bárcena, Executive Secretary, ECLAC
Latin America is faced with the twin challenges of poverty and inequality, but it is now better equipped to handle them.
Pamela Cox, Vice-President for Latin America and the Caribbean, World Bank
Brazil and Latin America are not a problem, but a solution for the challenges of the world. Considering the natural resources, mature institutions and qualified human resources, we are ready to receive investments and answer to the needs of the market.
Luiz Fernando Furlan, Chairman of the Board, GALF Empreendimentos, Brazil; Chair, Global Agenda Council on the Future of Latin America
Comments