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Wednesday 26 November 2008

UK to host G20 financial summit

Leaders of the G20 at a Washington, DC summit, 15 November 2008; Crown copyrightThe PM confirmed today that the UK is to chair the next G20 financial summit in 2009, following on from November’s meeting in the United States.

During Prime Minister’s Questions in the House of Commons this afternoon, the Prime Minister said the meeting would deal with “major questions of economic action”.

He said :

“I can tell the House today that we’ve agreed with our international partners, and particularly with Japan, which is current president of the G8, and Premier Aso, that the next meeting of the G20 will be held in London. It will be held in London on 2 April. It will deal with the major questions of economic action that are necessary.”

The Prime Minister also confirmed that President-elect of the United States, Barack Obama, is expected to attend the summit following his inauguration in January.

The first G20 summit convened to deal specifically with the global economic crisis took place in Washington, DC on 15 November. World leaders agreed to a 12-month moratorium on protectionist measures and pledged to look in detail at plans for the reform of international institutions such as the IMF.

G20 delivers “route map” to economic recovery - 15 November 2008

The G20 chair rotates between members, and is selected from a different regional grouping of countries each year. It consists of 19 of the world’s largest industrial and emerging market economies plus the European Union who convene to discuss key issues related to global economic stability.

More information on today’s PMQs: Wednesday 26 November 2008 Prime Minister’s Questions

More information on the G20 is available on the official G20 website (opens new browser window)

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