Ban Ki Moon and Gordon Brown talk to reporters after a meeting at the United Nations. The Secretary General outlines four steps that the G-20 can take to help low and middle income countries cope with the crisis. Meanwhile, PM Brown says the era of the “Washington Consensus” is firmly over. Watch.
I outlined to the Prime Minister the four areas where I believe G-20 countries need to show strong leadership: First, G-20 countries should commit to sustaining an international stimulus package, on top of their own national stimulus packages. This international stimulus needs to be of a very substantial size, commensurate with the challenge.
It needs to comprise aid for the poorest and most vulnerable countries, long-term public lending from the multilateral development banks, and liquidity support not only to least developed countries but also middle income developing countries.
This comprehensive package will be possible if existing commitments are met, including those made in Gleneagles to increase aid, and new resources are also mobilized.
Second, we agreed on the need to stand firm against protectionism and reinvigorate the Doha trade round so that it delivers real benefits for developing countries.
Third, we agreed that G-20 leaders must support a greening of the global economy, including in poorer countries, and that they should commit themselves to sealing a deal at climate talks in Copenhagen in December this year.
Finally, we discussed how to reform global rules and institutions so that they reflect today’s economic and political landscape.
I am hopeful that the London Summit meeting can send a signal of solidarity and hope to all peoples and countries of the world.