G-20 Summit

 Outcome of the just concluded G - 20 Summit meeting of world leaders in London,U.K. was a mixedbag with competing interests at play and complete success on every issue that confronts the nations was too much to expect.However, broadly the summit agreed on the following:

1) To triple the funds available to IMF to overcome resourse crunch at a time the demand from both developed and the developing economies are huge.

2) To ELEMINATE TAX HAVENS a very notable agreement which will stop the hot and spurious  money destabilising vulnerable economies of the world.

3) Agreeing on tighter measures on financial sector regulations especially in US/European countries.

4) Agreeing on keeping the MARKETS OPEN and provided us$259 billion help to ensure that outcome.

However, the most important negative outcome of the summit itself is the failure on INTERNATIONAL STIMULUS PACKAGE to revive the world economies.The argument put forth by the developing economies seems to be that the present meltdown is the creation of the US and few european economies.

The overall opinion of the West seems to be that the SOLUTION lies in the collective international package and that is the way going forward...