President Zuma is in Pittsburgh for the G20 Summit
New York: President Jacob Zuma supported by Finance Minister Pravin Gordhan and senior government officials are in Pittsburgh, Pennysylvania for the G20 Summit. President Zuma concluded his New York visit later this afternoon, by hosting a Cocktail reception for Heads of State and Government. The 3rd G 20 Summit is scheduled for 24 - 25 September 2009.
South Africa participates in the G20 Summit within the context of contributing to and strengthening the multilateral system to ensure fair and effective responses to the challenges confronting the world today. The value of the G20 lies in the fact that it can play an important facilitation role by mobilizing resources needed for a new economic multilateralism.
President Zuma asserted at the recent United Nations General Assembly 64th session that " the current economic crisis has dealt a heavy blow to our efforts to eradicate poverty, but it should not diminish our resolve" That the crisis should not be an excuse to defer further action on the Millenium Development Goals, rather it should be the catalyst for greater and faster progress" . This is the background against which South Africa participates at the Pittsburgh Summit.
The Pittsburgh Summit aims at assessing the progress made since the Washington and London Summits and will discuss further action to ensure a sustainable and sound recovery from the crisis.
Pittsburgh will also focus amongst others on the following:
- Reforming and modernizing the International Monetary Fund ( IMF) with a focus on the need for the organization to take up a central role in promoting global financial stability and growth.
- Strengthening the recovery of the world's poorest countries
- The need to empower Regional development Banks to better serve regional economic needs
- Financing the transition to a Green Global Economy
BACKGROUND TO PITTSBURGH SUMMIT
South Africa sent a high level delegation to the previous Two Summits of the G20 which were held in London in April 2009 and in Washington 2008 respectively. As a country, we contributed to the Agreement reached by the leaders of the G - 20 to restore global growth and build the foundation of a sustainable, balanced and inclusive recovery into the future.
South Africa maintains that a global response is required to mitigate the impact of the global economic and financial crisis and prevent its contagion to emerging and developing countries, in particular Africa.
Upon conclusion of the G20 Summit in Pittsburgh, President Zuma, will travel to Venezuela to participate in the 2nd Africa - South America Summit supported by Minister Maite Nkoana Mashabane.
For more information, contact International Relations and Cooperation Spokesperson, Nomfanelo Kota on + 27 82 459 3787
Issued by the Department of International Relations and Cooperation
South African Permanent Mission in New York
United States of America
25 September 2009