Thursday, April 2, 2009

A trillion dollars for world recovery

As I pick the communiqué the figure stands out. Breaking it up, its $750 billion to IMF (incidentally trebling their resources), $250 billion to support SDR (googling I discover the Special Drawing Rights was created by the IMF in 1969, a basket of currencies that works as an overdraft facility for member countries), a $100 billion lending to MDBs – that is Multilateral Development Banks – and $250 billion to boost world trade.
While IMF appears to be the biggest winner, I am interested in the $100 billion that would be lent to poorest countries. Wonder if the Indian PM has something to say about it in his briefing in a little while. I think I will go pay him a visit.

3 comments:

  1. Hi Swati, Very well done with your down-to-earth and yet up-close coverage of the summit! It's often the perspective of people like you that brings to us the real flavour of such grand (usually useless) meetings and its real implications for billions of people. Keep it up! -- And, welcome to blogosphere! I see you're going to go a long way in this craft...

    Also, am very happy to see you on Al Jazeera... Will keep watching this space.
    Best.
    Kanti

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  2. hey there! i also came looking for your blog after viewing you on aljazeera(apr2/09 g20).

    you mentioned a few of the organizations you work with in india, are you willing to list them here?

    imo, all the world is developing. born in canada, that country also has improvements to make for all people living within it's borders.

    i look forward to reading and learning more from your blog.

    thx!

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  3. Hi Ru Fong,
    Thanx for adding my blog to your list. I would like to share with you the All India People's Manifesto, an amazing civil society action carried out by WNTA in India. For details do check their site http://allindiapeoplesmanifesto.wordpress.com/2009/03/05/about/

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