Reports | 31 July 2013

Development and the G20

This issue of the G20 Monitor examines the topic of development and the G20.  In line with the coverage of G20 agenda items in previous issues of the Monitor, the focus is on where the G20 can add value.

This issue of the G20 Monitor examines the topic of development and the G20.  In line with the coverage of G20 agenda items in previous issues of the Monitor, the focus is on where the G20 can add value.

Key Findings

  • Development is a key component of the G20, but there are concerns over the effectiveness of the current development agenda.
  • The criticism includes that the development agenda is too diffuse and mostly distant to the G20’s main activities.
  • But the G20 development agenda has made progress in some important areas, including increasing the resources of the international financial institutions, infrastructure, food security, financial inclusion and reducing the cost of remittances.
  • However development and global economic issues cannot be treated in isolation; development must be ‘mainstreamed’ and clearly seen as part of the G20’s core agenda.
  • To the extent that Australia can help strengthen the G20 when it assumes the chair in 2014, and make tangible progress in such areas as - economic growth, financial regulation, trade, financial inclusion, infrastructure and climate change financing – it can make a significant contribution to promoting development and reducing poverty.