Latest

5/04/2009

Ziad Bahaaeldin argues Al Masry Al Youm that the Summit is a starting point, but ‘what's crucial are the actual results and how the Summit will contribute to a radical change in supervision of major financial institutions and the creation of new mechanisms to promote development in the Third World.  He sees the Summit as a successful start, especially its official confirmation of the end of an era of capital market chaos and the return of the state's role in supervising these institutions

Commenting on the G20 communiqué in Al Shorouk, Egyptian academic Amre Hamzawi, writes the allocation of $448 billion to support poor countries - despite the lack of a proper mechanism to pursue this and the difficulty of identifying the needs of these countries - is a success for non-western G20 member countries and provides hope for a more balanced global economic and financial system. He adds that while the summit may not have lived up to the expectations of the optimists who believed it could be the start for a new global economic and financial system, it has offered some hopeful solutions that could shorten the economic crisis and protect workers globally.

04/04/2009

Egypt hopes the scope of participation at future G20 meetings will be broadened to include more developing countries, particularly from Africa. Egyptian Foreign Minister Ahmed Aboul Gheit expressed hopes the scope of participation at future G20 meetings will be broadened to include more developing countries in Al Alam Al Youm. He said that the current membership of the G20 does not properly reflect the needs and interests of the African continent.

2/04/2009

Ibrahim Nafi reports on exchanged criticism at the G-20 summit and US accusations that European states have not done enough to contain the global financial crisis in Al Ahram.

31/03/2009

In Al Ahram Seginy Dollarmani warns against countries 'getting closed on themselves' and not seeking an international solution in Al Ahram.

17/03/2009

Writing in Al Ahram columnist Makram Muhammad Ahmad says the different interests of the G20 countries bar consensus on clear-cut priorities binding to all: 'Amidst these differences, the interests of developing countries do not find a defender and the issue of reforming the globalisation problem is not on the agenda of the G-20 meeting.'

17/03/2009

Al Ahram columnist Makram Muhammad Ahmad says the different interests of the G20 countries may block consensus on clear-cut priorities binding to all. He says that developing countries lack a 'defender' and that the issue of reforming the globalisation problem is not on the agenda of the G-20 meeting.

Finance Minister and IMFC Chairman Youssef Boutros Ghali says that he does not expect the G20 heads of state to 'have a magic wand' to solve the financial crisis but the summit would be an opportunity to agree on certain issues and co-ordinate policies, according to Al Ahram.  He said the summit could be a step forward that helps the leaders of developed countries get out of the predicament they took the world to.

16/03/09

During a visit to London to attend a seminar of African leaders, Youssef Boutros Ghali said data recently published by the IMF and World Bank showed a sharp decline in capital inflows to emerging markets, which fell from about $530 billion in 2007 to about $460 billion in 2008, says Al Ahram.  He expected no more than $165 billion this year, which will inevitably affect development plans and cause some countries to have difficulties servicing their external debt.