The G-20 Yields Only Unfulfilled Promises for Latin America

Last June, the heads of government of the Group of Twenty Finance Ministers and Central Bank Governors (G-20) met in Toronto, for the fourth G-20 summit to discuss global finance reform, and problems and prospects facing the world economy. The G-20’s past accomplishments, including financial reforms and recovery after the global financial crisis in 2008, arguably have mainly benefited the world’s most industrialized and developed nations, while producing relatively few results for the developing countries. For the next G-20 summit, the Latin American representatives—Brazil, Argentina, and Mexico—should learn vital lessons from Toronto and must not allow themselves to be bullied by more developed countries into giving up some of the financial reforms the region requires to achieve economic growth.

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