The Hindu Business Line : Economic crisis, reforms to dominate G8-G5 meet

L'AQUILA (Italy): Steps for recovery of the global economy affected by the downturn and reforms of the international financial architecture will dominate discussions at the summit of G-8 leaders with those of the G-5 'outreach' countries, including Prime Minister, Mr Manmohan Singh, here tomorrow.

The leaders of major economies will also discuss crucial matters relating to international trade and issues of climate change ahead of the Copenhagen summit next year.

First the leaders of the G-5 outreach countries, including India, China, South Africa, Brazil and Mexico, which is heading the grouping now, will have a meeting.

There will be a joint statement at the end of the meeting and the G-5 leaders will carry forward the discussions with the G-8 leaders tomorrow. G-8 comprises the US, Britain, Germany, Japan, France, Russia, Canada and Italy which is hosting the summit.

Only three months ago leaders of G-20 met in London and decided on measures including injection of trillions of dollars to pump prime the global economy.

Tomorrow's meeting will review the progress in this regard. Indian officials point out that the meetings in Italy are not a negotiating forum either on WTO issues or those relating to climate change. - PTI

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