CAFOD (Caritas England and Wales) has called on the G20 leaders meeting in Cannes to reform the financial system. CAFOD says G20 leaders must ensure:
The G20 continues to prioritise development and pays greater attention to the development impact of its core agenda, particularly in relation to sovereign debt and monetary system, tackling commodity speculation and improving financial transparency and accountability of transnational corporations (TNCs);
The G20 redirects its development action plan to tackle the constraints thwarting the untapped potential of the majority of economic actors in developing countries – small businesses and farmers;
It supports progress on identifying and mobilizing sources of innovative financing so that sufficient funds can be made available by 2020 to meet the target agreed for climate action at the UN and global commitments to tackle poverty and achieve the millennium development goals.
See CAFOD’s Economist, Tina Weller’s briefing document .
Read Tina’s blog on the G20.
Read Pascale Palmer’s blog on the G20.