IG’s Peace Blog

Peace and its many aspects

G-20: so far, so good!

Well, Nicolas Sarkozy (French President) had said he was going to walk out if he didn’t get what he wanted.  Now he says the agreement goes beyond his expectations.   That’s go to be good, right? 🙂

Anyhow, here is the BBC’s summary of the “deal” that has been signed:

$500bn for the IMF to lend to struggling economies
$250bn to boost world trade
$250bn for a new IMF “overdraft facility” countries can draw on
$100bn that international development banks can lend to poorest countries
IMF will raise $6bn from selling gold reserves to increase lending for the poorest countries
To quote the American President (I know, you know who he is :-)):
“By any measure the London summit was historic. It was historic because of the size and the scope of the challenges that we face and because of the timeliness and the magnitude of our response…”
Here’s a link to a video from President Obama about the “deal” (ok, ok…I mentioned him by name)
BTW, at the same place the Russian and America presidents started talking about a nuclear free world.  Another story to watch!

April 2, 2009 - Posted by | Uncategorized | ,

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