G24 Discusses Financial Crisis
The Ministers of the Intergovernmental Group of Twenty-Four (G24) met in Washington yesterday to discuss the global financial crisis and its widespread impact.
Following the meeting, they released a communique that highlighted, among other issues, the fact that the current crisis was having a "disproportionate effect on developing countries through various channels, including falling prices of primary commodities, sharply contracting exports, declining remittances, negative net private capital flows, and credit crunch affecting many countries"
G7 Addresses Recession and Downturn
The G7 Finance Ministers and Central Bank Governors met in Washington DC yesterday, amidst what they claim is "the the deepest and most widespread economic downturn and financial stress witnessed in decades."