In addition to delivering on previous G20 commitments, Korea as the G20 president for 2010, will also bring new perspectives and new issues to the G20, with a view to addressing the needs of the emerging and developing world as part of the effort to support sustainable growth globally.
* Global Financial Safety Net System
Korea is advocating strengthening global financial safety nets to assist countries to deal with capital volatility. Without reliable financial safety nets, many emerging and developing countries have had to rely on self-insurance, giving them greater impetus to accumulate large foreign reserves.
* Development Issues
Korea is also interested in fostering renewed discussions on development issues. The G20 leaders collectively recognized that narrowing the development gap and reducing poverty are integral to the broader objectives to achieve strong, sustainable and balanced growth, as well as to ensure a more robust and resilient global economy. Korea will act as a bridge between the advanced, emerging and developing worlds by fully engaging all relevant stakeholders, with a focus on the development needs of low income countries.
Initially booked to occur in Riyadh, Saudi Arabia, the occasion will be held basically, according to a 28 September declaration. The G20 is comprised of 19 nations and the EU.
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