Thursday, April 2, 2009

To Global Economy: G-20 Supports You

The G-20 released the final version of the communique that will leave the London Summit today.

The take away I'm getting from a word cloud is: support. The G-20 intends to support a range of broad concepts like market discipline, financial stability, and sustainable compensation.

Wordle: G-20 Final Communique 4-2-09

The communique also lends quantifiable support to several institutions. The IMF will get more funds through an allocation of $250 billion in Special Drawing Rights (SDR), the IMF "currency" that Chinese central bank president, Wen Jiabao, recently said should be used for more international transactions rather than the dollar. The world's Multilateral Development Banks (MDBs) will receive at least $100 billion to loan to low income countries.

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