Tag: g20

The G20 Summit is officially underway in sunny Los Cabos, Mexico. The usual tourists in San Jose del Cabo (one of the two towns of Los Cabos) have been replaced by camera crews, journalists, and development junkies all abuzz with the issue of the day: the euro crisis. But what Oxfam and other major organizations are campaigning for is for G20 leaders to think much broader than the European Union.

What is the G20?

The G20 – or group of 20 – started as a group of finance ministers and central bank governors from 20 major economies (it’s actually 19 countries, plus the European Union) that gather annually to discuss key issues in the global economy. Since 2008, the G20 has met at the Head of State level. Collectively, the G20 economies account for two thirds of the world population and more than 80 percent of the gross world product (GWP). The G20 has declared itself to be the world’s premier forum for economic development, setting high expectations. 

It’s amazing how developments unfold little by little at the G20 Summit. Here, it’s all about details. Each step towards progress is tiny, but it’s there and that is enough to be reassured of forward momentum on smart, sustainable solutions for the world’s poor.

It’s the time of year when Washington DC fills up with finance ministers, development ministers and central bank governors, all in town for a G20 meeting and for the annual meetings of the World Bank and IMF. Oxfam is also here, lobbying for policies that benefit people living in poverty, and trying to keep attention on the most marginalized in the midst of fears about eurozone debt and US deficits.