Caritas welcomed renewed commitments from the G20 Summit on reaching aid and development targets, but fears leaders did not do enough to
spare millions of people falling into poverty.
Leaders of the G20 of developed and emerging economies met in London on 2 April, as the world faces the greatest challenge to the global
economy in modern times.
Blandine Bouniol, Caritas Policy Officer for International Cooperation said, “The G20 reaffirmed aid targets and commitments such as dedicating
0.7 percent of gross domestic income (GNI) for overseas aid. But Caritas remains skeptical that those promises will be met, with some donors already announcing drastic budget cuts and the lack of
concrete measures such as a timetables for delivery.
“G20 package money to developing countries remains conditional on good governance performance as evaluated by the
World Bank and IMF. But the Bank and the Fund promote a brand of liberal economics that has led to dramatic job losses and cuts in public services. We wanted the Bank and the Fund to have greater
democratic representation.
“There was encouraging first steps towards removing banking secrecy and publication of tax havens listings. The list published by the OECD has
been largely adjusted from previous published lists. As a result, no black-listed countries are represented in the G20. Beyond a list, only sanctions would make a true difference in stopping the
scandal of tax havens.
“There was no regulation strengthening transparency of the payments and taxes paid by companies to governments . The role of multinational business
in affecting a country’s development is underestimated and the accountability of multinational companies operating in developing countries is ignored.
“No decisive steps on climate change and towards building a new low-carbon economy. The G20 prefers waiting for the outcome of ongoing deals being negotiated in the run up to the UN
climate change conference in Copenhagen in December.
“No mention of the forthcoming UN Conference on the crisis impact on development in June. The G20 calls on the UN to
play a role in monitoring the crisis impact on the poorest and most vulnerable; but beyond this, the UN, as the most inclusive forum, with representatives from all countries, including the poorest
ones, is today’s most legitimate forum to design solutions to the global crises.â€
