Congressman Gregory Meeks Convenes Hearing to Address Implication of the G-20 Leaders Summit for Low Income Countries and the Global Economy

Press Release

Congressman Gregory Meeks (D-NY), Chairman of the Subcommittee on International Monetary Policy and Trade, will hold a hearing on May 13, 2009 entitled "Implications of the G-20 Leaders Summit for Low Income Countries and the Global Economy." On April 2, 2009, leaders of the G-20 nations gathered in London with representatives from key developing countries to discuss and coordinate a plan for the current global financial crisis. The goal of this meeting was not only to come up with a solution to the current crisis, but to prevent other financial crisis in the future.

At the G-20 meeting attending leaders pledged that they would come together to work on repairing the financial system to restore lending, strengthen financial regulation to rebuild trust, fund and reform international financial institutions to overcome this crisis and prevent future ones, promote global trade and investments and to build an inclusive, green and sustainable recovery.

"It is important that there is international coordination to implement and develop a comprehensive plan that will enable the world to recover from this financial crisis. I believe that it is critical that we ensure continued growth amongst emerging markets, which directly affects us in the U.S. It is important that the G-20 works to effectively promote a stable and fair foundation for a sustainable world economy, taking into account countries at all stages of development. This current crisis is having a particularly harsh impact on our world's poorest countries and it is important that we convene to collectively strategize to emerge from this global financial crisis as soon as possible, while maintaining peace and stability in vulnerable countries," stated Congressman Gregory Meeks.

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