| 20 of the world's top economies promised to help Iraq lower its debt and to help re-start global trade talks after a two-day meeting in Mexico on Monday. Officials from the Group of 20, G-20 nations, also discussed the possibility of sanctioning countries that refused to cooperate in the fight against terrorism. Possible sanctions were not outlined at the meeting. In a declaration released at the end of the meeting, ministers called on World Trade Organization, WTO members to re-start the trade talks that collapsed in Cancún last month. "Nations must quickly re-energize the negotiation process, recognizing that flexibility and political will from all are urgently needed," it said. G-20 ministers also talked about the possibility of creating a voluntary code of conduct to govern negotiations between creditors and countries on the verge of defaulting on debt. The code would outline the steps that should be taken to prevent a financial crisis. Created in 1999 to avoid financial disasters and to keep the global economy stable, the G-20 is made up of the European Union and 19 other countries including Australia, Brazil, China, Japan and the US. |
| 20 of the world' s top economies promised to help Iraq lower its debt and to help restart global trade talks after a twoday meeting in Mexico on Monday. Officials from the Group of 20, G20 nations, also discussed the possibility of sanctioning countries that refused to cooperate in the fight against terrorism. Possible sanctions were not outlined at the meeting. In a declaration released at the end of the meeting, ministers called on World Trade Organization, WTO members to restart the trade talks that collapsed in Cancu n last month. " Nations must quickly reenergize the negotiation process, recognizing that flexibility and political will from all are urgently needed," it said. G20 ministers also talked about the possibility of creating a voluntary code of conduct to govern negotiations between creditors and countries on the verge of defaulting on debt. The code would outline the steps that should be taken to prevent a financial crisis. Created in 1999 to avoid financial disasters and to keep the global economy stable, the G20 is made up of the European Union and 19 other countries including Australia, Brazil, China, Japan and the US. |
| 20 of the world' s top economies promised to help Iraq lower its debt and to help restart global trade talks after a twoday meeting in Mexico on Monday. Officials from the Group of 20, G20 nations, also discussed the possibility of sanctioning countries that refused to cooperate in the fight against terrorism. Possible sanctions were not outlined at the meeting. In a declaration released at the end of the meeting, ministers called on World Trade Organization, WTO members to restart the trade talks that collapsed in Cancú n last month. " Nations must quickly reenergize the negotiation process, recognizing that flexibility and political will from all are urgently needed," it said. G20 ministers also talked about the possibility of creating a voluntary code of conduct to govern negotiations between creditors and countries on the verge of defaulting on debt. The code would outline the steps that should be taken to prevent a financial crisis. Created in 1999 to avoid financial disasters and to keep the global economy stable, the G20 is made up of the European Union and 19 other countries including Australia, Brazil, China, Japan and the US. |
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