G20: Meet could discuss coordination, unified policy action
Published on Sat, Nov 15, 2008 at 12:59 | Source : CNBC-TV18
Updated at Sat, Nov 15, 2008 at 15:23
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G20: Meet could discuss coordination, unified policy action
After the G20 meeting this weekend, it is expected that there will be some coordinated attempts to fix the global economy, she said. "Likely, no specifics on currency but talk about transparency, coordination of accounting standards and continued coordination on things like interest rate reduction policies around the world."
The G20 - a meeting consisting of 20 economies that together comprise of 80% of the world's trade and have two-thirds of the world population - takes place this weekend. Formed in 1999, the G20 consists of finance ministers and central bank governors of 20 countries, IMF and the World Bank.
How significant is this meeting for emerging economies?
CNBC's Erin Burnett feels the meeting is very significant because for the first time, key emerging economies like India, China, Brazil and Russia are a part of these meetings. Burnett will be talking to US Treasury Sectary Henry Paulson about the bailout plans in America and the country's automobile companies are a topic of concern.
Commenting on India, Burnett said "In India, the big issue this summer had been the rising inflation but obviously things have changed for all of us. That will be a big topic of conversation."
Overall after the meeting this weekend, it is expected that there will be some coordinated attempts to fix the global economy, she said. "[It is] likely [that there will be] no specifics on currency but [there will be] talk about transparency, coordination of accounting standards and continued coordination on things like interest rate reduction policies around the world."
The G20 - a meeting consisting of 20 economies that together comprise of 80% of the world's trade and have two-thirds of the world population - takes place this weekend. Formed in 1999, the G20 consists of finance ministers and central bank governors of 20 countries, IMF and the World Bank. 
