The G20 summit needs to be about breaking the rungs of the development ladder
The G20 should stop undermining growth and development in developing nations and should promote domestic public banking systems instead
This year’s pandemic and its induced economic crisis will undoubtedly emerge as epochal. For global leadership the task is real and urgent. But this weekend’s 2020 G20 meeting will be remembered as unremarkable, at least from the developing world perspective.
Themed “Realising opportunities of the 21st century for all”, the G20 meeting portrays a world economy as in a state of balance, undergirded by resilient structures. Yet the recent international financial architecture developed and shaped by the World Bank, the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD) and the G20’s lead governments, is one with pillars that are not only fragile but hardly equally support all parts of the world for opportunities to be easily and fairly had by all nations...
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