The headlines in the wake of the G-20 summit in Toronto (26-27 June 2010) have focused on the agreement to halve deficits by 2013. Beyond these headlines, the Summit Declaration contained elements that could evolve into a new development agenda for the G-20, focusing on support for growth in low income countries (LICs). A new development agenda for the G-8 and G-20 is urgently needed, particularly since the G-8 has dropped references to the Gleneagles commitments on aid.
In June, the Overseas Development Institute (ODI) launched a collection of essays to inform both G-20 summits being held this year, particularly in relation to the development dimension of the G-20 framework for strong, sustainable and balanced growth. Taken together, the essays provide the basis of a 20 point charter that commits LICs to transformative growth and the G-20 to consider the development effects of their core economic policies.
There is much work to do before the G-20 summit being held in Seoul from 11-12 November 2010, and ODI is committed to publishing resources to inform debate in the run-up to the Summit itself. In his latest blog , Dirk Willem te Velde shares his thoughts on what the Toronto summit meant for development.
This research builds upon a number of influential studies published by ODI since it launched 'A Development Charter for the G-20' ahead of the London summit in 2009.