Earlier today, ONE held a press conference with the African Development Bank at the International Monetary Fund (IMF) headquarters in Washington D.C. The panel was an interesting mix of distinguished African development advocates and officials, including ONE supporter and activist Bob Geldof; African Development Bank President Donald Kaberuka; Tanzania Finance Minister Mustafa Mkulo; and New York Congressman Gregory Meeks.
The meeting was held in anticipation of the IMF and World Bank annual Spring Meetings. Both institutions will be making critical decisions to follow up on the details of the G20 commitments and determine what will be delivered and with what conditions. The press conference was focused on how the Spring Meetings can provide low income countries – particularly African countries – with the resources they need to get through this financial crisis as well as build on recent development successes, without creating a future debt crisis.
At the event, Bob described how the economic crisis has continued to marginalize the poor peripheral parts of the world. Interesting, Bob remarked that $5 billion (the amount ONE is asking the IMF to provide to developing countries in grants and loans) is a tiny amount compared to the bailout given out in developed countries. Bob referred to a study commissioned by ONE that shows that by injecting $50 billion to Africa now will would increasing global output by as much as $250 billion. He called for aid to Africa to continue and challenged the group to think about how relatively small change can make a big difference.
Mr. Kaberuka described how Africa, in the past several decades, has been a story of progress and setbacks. He questioned the idea of a “banking crisis.” Rather, Africa faces an economic crisis. Mr. Kaberuka emphasized that the amount needed for developing countries is relatively small – the international community pledged $50 billion at the last IDA replenishment and $9 billion for the African Development Bank. Doubling these could have a significant impact.
Overall, yesterday’s G20 Summit communique has left ONE very hopeful, but as always, with a lot of work on our plates. Below, I’ll quote the very succinct recap by our Global Campaigns Director Roxane Philson, and then I’ll include 3 very short flip camera interviews with some incredible G20 Voice bloggers: Nigerian blogger Sokari Ekine, Richard Murphy of the UK (who was able to ask a question about tax havens to Gordon Brown at his internationally-covered G20 press conference), and Kenyan blogger Daudi Were.
Roxy’s Summary:
“Yesterday’s G20 Summit looks like it made some real progress for the world’s poorest. Caution tells me that some of the vague language will take hard work to clarify, but this morning, as I re-read statements and news from yesterday, I am filled with a sense of hope and optimism.
Highlights include:
Resources: The G20 announced US $50 billion for low-income countries – although we are concerned this includes existing funding – and a further US $100 billion in lending for development banks.
Reform: Developing countries will have greater representation in the international financial institutions and that election to World Bank/IMF leadership will be based on merit.
Regulation: The G20 announced regulation of illicit tax havens.
As with all summits like the G20, we’re left with just as much work coming out of the summit as we had going in. We need to work to ensure that money going to developing countries is given as grants, not loans that trigger another debt crisis. Also, much more needs to be done on the green agenda in the interests of developing countries at the UN Climate Change Conference in Copenhagen later this year.”
And below, short interviews with 3 great global bloggers:
Nigerian Sokari Ekine of the blog Black Looks on attending the 2009 London G20 Summit:
UK Richard Murphy of The Tax Research Blog on asking a question on tax haven reform to British Prime Minister Gordon Brown at the internationally-covered G20 press conference:
Daudi Were, who lives in Nairobi, Kenya, and blogs at Mental Acrobatics blog, on the outcomes of the G20 Summit.
Attending the 2009 London G20 Summit as an accredited member of the media was absolutely the opportunity of a lifetime. I just want to publicly thank Karina Brisby, Shane McCracken, Samantha Bronnar, and everyone who put the G20 Voice project together and made it possible for 50 bloggers from around the world to attend this historic global summit. I hope it’s only the beginning for allowing new independent voices, particularly those from the developing world, into these critical global discussions.
In addition to the remarks we blogged about earlier, President Obama had this to say about his role as President.
Transcript:
I have a direct responsibility to my constituents to make their lives better. That’s why they put me in there. That accounts for some of the questions here, how concretely does me being here help them find a job, pay for their home, send their kids to college, live what we call the American dream. I will be judged by my effectiveness in meeting their needs and concerns.
But, in an era of integration and interdependence, it is also my responsibility to lead America into recognizing its interests, its fate is tied up with the larger world. That if we neglect or abandon those who are suffering in poverty, that not only are we depriving ourselves of potential opportunities in markets and economic growth, but that despair may turn to violence that turns on us. That unless we are concerned about the education of all children and not just our children, not only will we be depriving ourselves of the next great scientist to find the next new energy source that saves the planet, but we also may make people around the world much more vulnerable to anti-American propaganda. So, if I’m effective as America’s president now, part of that effectiveness involves providing Americans insight into how their self-interest is tied up with yours.
The 2009 London G20 Summit is finally really wrapping up. Below are some excerpts from ONE’s reaction to the summit’s communique. You can see the full release here.
“ONE today welcomed commitments to the world’s poorest countries in the G20’s final deal, but warned that funds announced for them must not create a new debt crisis.
“The G20 have come up with impressive numbers; it’s what they do with them now that counts”, said Oliver Buston, Europe Director for ONE. “Is the US$50bn announced for Low Income Countries grants or loans? To fight the crisis, Africa needs new effective aid on top of existing promises, not expensive loans.
“Thanks to Gordon Brown’s leadership, the world’s poorest have not been forgotten, now their participation in international talks needs to grow”, he said.”
We will need to look over the details of what’s been decided over the next days and weeks, but we should remember that a few months ago we weren’t even sure if developing countries would be on the agenda at this G20 meeting. There’s certainly a lot of work ahead but ONE members campaigned for African voices and for resources, reform and regulation, and today we made some good progress towards these goals.
This entire experience personally, of attending the summit as part of the G20 Voice project, has been an absolute honor. I’ll post more about that tomorrow.
A couple hours ago British Prime Minister Gordon Brown held a global press conference at the London G20 Summit, and right now, US President Barack Obama is holding one as well (which ONE’s Virginia Simmons is currently attending.)
Here are some important excerpts from Brown and Obama’s speeches:
Brown:
This time of financial crisis is no time to walk away from our commitments to the world’s poorest. So when people are suffering – and, yet, it is within our capacity to help – we will not pass by on the other side. We remain firmly committed to meeting the millennium development goals and all of our pledges on aid. To deal with this crisis we have today asked the IMF to bring forward proposals to use the proceeds of agreed gold sales to support low income countries. So in total we have now reached agreements worth $50 billion for the poorest countries – alongside our support for a world bank vulnerability fund.
Obama:
Finally, we are protecting those who don’t always have a voice at the G-20, but who have suffered greatly in this crisis. The United States is ready to lead in this endeavor. In the coming days, I will work with Congress to provide $448 million in immediate assistance to vulnerable populations, and to double support for agricultural development to over $1 billion so that we are giving people the tools they need to lift themselves out of poverty. We will also support the United Nations and World Bank as they coordinate the rapid assistance necessary to prevent humanitarian catastrophe. This is not just charity though. These are future markets for all countries, and future drivers of growth.
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The 2009 London G20 Summit is finally really wrapping up. Below are some excerpts from ONE’s reaction to the summit’s communique. 
