Saturday, May 30, 2009

US to host next G20 world meeting

The US will host the next G20 summit of world leaders in September, the White House has confirmed.

The meeting will take place in Pittsburgh, Pennsylvania, on Thursday 24 September and Friday 25 September.

April's G20 summit in London announced a $1.1tn (£691bn) rescue plan to help revive the world economy.

The September meeting is expected to monitor the implementation of the plan so far, and decide whether further measures are needed.

Regeneration city

Pittsburgh is seen as a shining example of how a one-time depressed US industrial city has managed to successfully regenerate itself.

Winning the swing state of Pennsylvania was also a key victory in Barack Obama's presidential election success.

Most commentators had previously expected the US to announce that the next G20 meeting would be held in New York.

The $1.1tn agreed in London included tripling the resources available to the International Monetary Fund to $750bn, and spending $250bn on boosting global trade.

The G20 leaders also agreed to enforce tougher global financial regulation, and introduce sanctions against secretive tax havens.

Story from BBC NEWS:

Published: 2009/05/28 18:17:27 GMT

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