'South Africa cannot represent a whole continent'

The pledges trip easily off the tongues of global leaders on summit occasions, but experts canvassed by Agence France-Presse fear African nations may forever struggle to be truly heard no matter the global forum.

The days of undue Group of Eight influence on their lot may be numbered, given admissions at this month's summit gathering Britain, Canada, France, Germany, Japan, Russia and the US in Italy's earthquake-hit L'Aquila.

But the G14 some believe will now take precedence -- adding emerging economic giants Brazil, China, India, Mexico and South Africa, plus Egypt -- may not offer much more, despite including two African voices at the table.

Neither South Africa nor Egypt could ever be said to represent the vast swathes of sub-Saharan Africa to which most aid is directed.

The leaders of the G8 nations vowed in L'Aquila to honour their promises to Africa and make up a $25-billion aid shortfall, but anti-poverty campaigners were not alone in demanding action not words.

Stephen Gelb, who heads up the Edge Institute in Johannesburg said "I don't take these pledges seriously because they don't carry any punishment if they're not met. No country is going to be kicked out of the G8 because it hasn't given aid to Africa."

Assefa Admassie of the Ethiopian Economic Association warned that the G8 "never honour their commitment[s]."

The solution, for him, is for Africans to take matters into their own hands. "We can't only blame G8 or multilateral organisations," he said. "We have to put our own houses in order."

Source: Mail & Guardian

Russian, Italian leaders discuss G8 in Moscow

“I believe it is a very important matter that we plan to discuss today. There are very important opportunities to find answers to the current economic crisis and introduce a new global management method allowing us to supervise the financial and economic world and avoid any chance of a new crisis,” the Italian premier said.

Source: University of Toronto G8 Research Group

Unfettered capitalism as a panacea for global poverty

Finance ministers responsible for overseeing the financial institutions at the heart of the global recession used an international gathering in Washington over the weekend to make amends, promising billions of new lending for emerging markets.

While hardly oblivious to the plight of the poor, economic leaders from the United States, Britain, Japan and other industrial nations have devoted most of their energy over the past year to cleaning up their financial messes at home.

But the risks facing emerging economies in Africa, Asia, South America and Eastern Europe have become so severe that they were impossible to ignore at meetings of the International Monetary Fund and World Bank.

The economies of emerging and developing countries will expand a mere 1.6 per cent in 2009, compared with 6.1 per cent last year, according to the IMF. Already, 50 million people have been thrust into extreme poverty as a result of the crisis, according to the World Bank.

The crisis, rooted in the rampant trading of exotic financial assets by American and European banks, exposed the weaknesses of unfettered capitalism as a panacea for global poverty.

France and Germany teamed up to contribute almost $2-billion (U.S.) to a World Bank program that will finance infrastructure projects in poorer countries that are at risk of stalling because of the crisis, and World Bank president Robert Zoellick said he will be pushing other nations to contribute to the fund. Richer countries’ support of poorer nations isn’t entirely altruistic.

While economic growth in emerging economies has slumped, it still is growth. The economies of the world’s industrialized nations will contract 3.8 per cent this year and won’t grow at all in 2010, according to the IMF.

Source: University of Toronto G8 Research Group

G7 hails China's actions and pledges supoort

The G7 major economies Friday hailed the contribution of “many countries,” including China, in the fight against the global economic crisis and pledged to work toward increasing their clout in international financial institutions.

“Many countries are now playing a major role in the global economy and we welcome their contribution to the collective international effort to promote recovery,” Group of Seven finance officials said in a statement following a meeting in Washington.

“We welcome China’s continued commitment to move to a more flexible exchange rate, which should lead to continued appreciation of the renminbi in effective terms and help promote more balanced growth in China and in the world economy,” the G7 finance ministers and central bank governors said.

The G7 added that they “will work with our international partners to modernize the governance of the international financial institutions in order to enhance their relevance, effectiveness, and legitimacy.”

The People’s Bank of China cut the renminbi’s peg to the dollar in 2005 and since then has allowed it to appreciate steadily, but under close control.

In recent months, the Chinese government appears to have decided the currency had gone up enough against the dollar as the global crisis saps its key export market.

Source: G8 Research Group University of toronto

Democratisation and Human Rights

President Dmitry Medvedev believes that the results of the first conference of the Council of Europe (CE) in Moscow on social stability will help prepare efficient decisions of the G-20 summit in London.

Russian Deputy Prime Minister Alexander Zhukov read out on Thursday Medvedev’s greetings to participants and guests of the conference at its opening. The president’s message says as follows: “I greet participants and guests of the first Conference of Ministers of the Council of Europe members states, responsible for social cohesion.

Russia traditionally pays great attention to education, public health, pension maintenance and other social programmes.

Source: ITAR-TASS World Service

Systemic Stability & Transparency of Financial Markets

We discussed recent developments in global financial markets, including hedge funds, which, along with the emergence of advanced financial techniques and products, such as credit derivatives, have contributed significantly to the efficiency of the financial system.

Nevertheless, the assessment of potential systemic and operational risks associated with these activities has become more complex and challenging. Given the strong growth of the hedge fund industry and the increasing complexity of the instruments they trade, were affirm the need to be vigilant.

Source: G8 Summit, Heiligendamm, 8 June 2007

Growth and responsibility in Africa

The discussions with African representatives were "very honest, very open" German Chancellor Angela Merkel said after the first working session on the last day of the Summit in Heiligendamm. US$60 billion have been pledged over the coming years to combat HIV/AIDS, malaria and tuberculosis.

The Chancellor's message to the countries of Africa was this: "We are aware of our responsibility and we will honour our commitments." The G8 needed to "fulfil the promises we made," she said.

Source: G8 Summit 2007

G8 Update on Africa

Since the late 1990s, G8 Summits have given Africa a high priority. At Gleneagles last year the G8 agreed to a further set of measures to reduce poverty and support sustainable development in Africa.

We are continuing to work in partnership with Africa, in particular in support of the AU and NEPAD, with a special focus this year on infectious diseases, education and energy security.

This report reviews progress on G8 commitments on Africa since the last G8 Summit, while respecting the critical role of African ownership of the reform process.

Source: G8 Summit 2006

G8 Update on HIV in Africa

Global health crises call for close international co-operation on policies and methods. We reaffirm our commitment to achieving the development goals set out in the Millennium Summit and at the World Summit on Sustainable Development.

We will work in partnership with developing countries, the private sector, multilateral organisations and non-governmental organisations (NGOs) to help achieve these health goals. Multilateral and bilateral Official Development Aid as well as private efforts from companies and NGOs should match and complement existing efforts to improve health outcomes.

We express our continued concern at the increase in the global HIV/AIDS pandemic. We welcome the increased bilateral commitments for HIV/AIDS, whilst recognising that significant additional funds are required. We commit, with recipient countries, to fulfil our shared obligations as contained in the Declaration of Commitment on HIV/AIDS for the 2001 United Nations General Assembly Special Session.

Source: G8 Summit, Evian, 3 June 2003

G8 Africa Action Plan

Together, we have an unprecedented opportunity to make progress on our common goals of eradicating extreme poverty and achieving sustainable development. The new round of multilateral trade negotiations begun at Doha, the Monterrey meeting on financing for development, this G8 Summit at Kananaskis and the World Summit on Sustainable Development in Johannesburg, are key milestones in this process.

NEPAD recognizes that the prime responsibility for Africa's future lies with Africa itself. We will continue to support African efforts to encourage public engagement in the NEPAD and we will continue to consult with our African partners on how we can best assist their own efforts. G8 governments are committed to mobilize and energize global action, marshal resources and expertise, and provide impetus in support of the NEPAD's objectives. As G8 partners, we will undertake mutually reinforcing actions to help Africa accelerate growth and make lasting gains against poverty. Our Action Plan focuses on a limited number of priority areas where, collectively and individually, we can add value.

The African peer-review process is an innovative and potentially decisive element in the attainment of the objectives of the NEPAD. We welcome the adoption on June 11 by the NEPAD Heads of State and Government Implementation Committee of the Declaration on Democracy, Political, Economic and Corporate Governance and the African Peer Review Mechanism. The peer-review process will inform our considerations of eligibility for enhanced partnerships. We will each make our own assessments in making these partnership decisions. While we will focus particular attention on enhanced-partnership countries, we will also work with countries that do not yet meet the standards of NEPAD but which are clearly committed to and working towards its implementation. We will not work with governments which disregard the interests and dignity of their people.

However, as a matter of strong principle, our commitment to respond to situations of humanitarian need remains universal and is independent of particular regimes. So, too, is our commitment to addressing the core issues of human dignity and development. The Development Goals set out in the United Nations Millennium Declaration are an important component of this engagement.

Source: G8 Summit, Kananaskis, 27 June 2002

The Genoa Declaration

A new partnership between Africa and the G8 countries got under way with the Genoa Declaration in 2001, with the aim of backing Africa's effort to address crucial issues for the continent's development. The impulse provided by the Italian presidency to building a strong and lasting link with the African continent was picked up and developed at every G8 Summit thereafter.

The 2001 G8 Summit highlighted the will to support a totally African development initiative (NEPAD) that put an end to the old methods of the past and paved the way for a new vision of the future. The Heads of State and Government leaders of the leading industrially advanced democracies meeting in Genoa responded with the Genoa Declaration, which basically subscribed to the priorities defined by the African representatives.

These are the salient points enshrined in the Declaration: a strategic approach to reducing poverty; debt relief, particularly through the Reinforced Initiative in favor of the heavily indebted poor countries (HIPC), which is considered a valid contribution to the struggle against poverty, but also as a means of stimulating faster growth in the very poor countries; greater participation in the global trade system for developing countries; a boost to private investment in the continent; initiatives to promote health, education and food security and safety, such as: the establishment of a global fund to combat HIV/AIDS, malaria and tuberculosis; the reliability of national health systems; food security and safety; the crucial nature of Official Development Assistance (ODA); the struggle against crime; the opportunities offered by digital technology (Task Force G8).

A decision was also reached at Genoa to formalize the post of Africa Personal Representative (APR) for the G8 countries' Heads of State and Government leaders, with each country appointing a ranking personality to the job.

The Africa personal representative's task is to liaise with the African countries on a permanent basis and, working in conjunction with the African leaders, to put together a G8 Africa Action Plan each year for submission to the following year's G8 Summit.

The representatives also recommend action to be taken in favour of Africa and they track the implementation of the Action Plan, keeping their respective heads of state and government leaders up to date on the progress being made.

Source: G8 Summit, Genoa, July 22 2001

Signing of the "United Nations Convention against Transnational Organized Crime"

Japan signed the "United Nations Convention against Transnational Organized Crime" on December 12 (Tue) at a high-level conference held in Palermo, Italy. The signatory was Mr. Kiyohiro Araki, Senior State Secretary for Foreign Affairs.

The Convention was drafted by the Ad Hoc Committee established by UN resolution 53/111 of December 1998, and was adopted by the General Assembly at its Millennium meeting on November 15, 2000. The Convention obliges the State Parties to criminalize certain activities including conspiracy of a serious crime and laundering of proceeds of crime. It also provides for the confiscation of proceeds of crime, jurisdiction, extradition, and mutual legal assistance, etc. The Convention aims at establishing a global legal framework to prevent and promote the cooperation to fight against transnational organized crime.

The Heads of the G8 countries reaffirmed in G8 Communiqué during the Kyushu-Okinawa G8 Summit in July 2000 that they would support for the adoption of the Convention by the end of this year. Japan has played a significant role in negotiations for the drafting of the Convention including its contribution in its capacity as a member of the Bureau of the Ad Hoc Committee.

The High Level Political Signing Conference is co-sponsored by the Government of Italy and the United Nations, which is attended by the President of Italy, UN Secretary-General, and also representatives from many countries including ministerial level officials.

Source: Ministry of Foreign Affairs of Japan

The G7 and China in the Management of the International Financial System

For several years, scholars, practitioners and analysts in "think tanks" have conducted an ever more vigorous debate about China's proper relationship with the G7 and now G8 club of major industrial democracies, as this forum increasingly emerges as an effective centre of global governance for the international financial system of the 21st century.

During its quarter century in operation thus far, the G7/8 system has substantially transformed its relationship with China, moving during the 1990's from its initial Tienanmen engendered focus on China as an adversary and object of collective G7 admonition to the current emphasis on China as a supportive player and potential associate of the G7/8 in managing the many economic and political challenges a rapidly globalizing, post European Cold war system have brought.

This progression has hastened recently with the responsible and helpful role China played, in its own interest, in supporting the G7's efforts to combat the Asian-turned-global financial crisis of 1997-9 and to construct a new international financial architecture more appropriate to the conditions of the twenty first century.

This new role for China has led to its inclusion in recently created forums such as the G22 and G20, with the G7 at the core, to manage and modernize the international financial system. Its approach to these bodies and the issues at the centre of their agenda, together with the assets and vulnerabilities China brings, suggest that it is time to develop options for further associating China with the G8 itself.

Source: University of Toronto G8 Information Centre