Countries "Big twenty" (G20) will be able to save up to 20 million jobs, if their government will allocate 2 percent of GDP to support the economy. The statement was made by Deputy Director of the International Monetary Fund (IMF) John Lipski (John Lipsky), reported AFP. The funds necessary to support the economy should be made by governments in 2009 and 2010.
March 30, British newspaper The Financial Times published a draft communiqué on the meeting of the leaders of the G20, which will be held in London on 2 April 2009. According to the document, the heads of the Greater twenty promise to reform the international financial institutions, to ensure the growth of world economy, to strengthen financial regulation and conclude the Doha Round of negotiations under the World Trade Organization (WTO).
In the published draft communiqué exact amount of money that governments of the G20 will provide to encourage economic system is not called. Nevertheless, it is expected that measures to maintain economic growth will increase the world's GDP by two percentage points, and create about 20 million jobs worldwide.
Big Twenty "was founded in 1999. The group was established finance ministers of seven industrialized countries, including Britain, Italy, Canada, Germany and Japan. G20 functions as a forum for cooperation and consultation on issues relating to the international financial system. The "big twenty" is composed of the European Union, Australia, Brazil, Meskika, Russia, Turkey, France and several other major economies.
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