What We’re Reading 4/3/09

Apr 3rd, 2009 2:40 PM UTC
By Chandler Smith

AllAfrica.com: G20 Leaders Promise Billions for Low-Income Nations
The leaders of the world’s 20 biggest economies, recognizing that the global financial crisis has “a disproportionate impact” on vulnerable people in poor countries, have promised to make hundreds of billions of United States dollars available to these countries as part of a $1.1 trillion plan to rescue the world economy. In a communiqué released by the Group of 20′s London Summit on Thursday, the leaders announced what they called “a global plan for recovery on an unprecedented scale.”

New York Times: The Economic Summit (editorial)
The New York Times takes a look at the successes and failures of the G20. The paper claims the leaders fell short of high expectations by refusing to spend the hundreds of billions of dollars in additional fiscal stimulus that the world economy needs to pull out of its frighteningly steep dive.

AFP: US to double international food aid: Obama
President Barack Obama announced Thursday that US food and agriculture aid to Africa, Latin America and other poor regions would double to more than one billion dollars because of the economic crisis.

Financial Times: African leader hails G20 progress
On paper at least, African leaders appear to have emerged from the G20 summit with most of what they wanted. Meles Zenawi, the Ethiopian prime minister, who is officially representing the continent, had urged the International Monetary Fund to sell part of its gold reserves to finance a $50bn (€37bn, £34bn) rescue package for low-income countries. The summit approved the plan.

-Chandler Smith

TAGS: ONE, What We're Reading