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2 April 2009
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South Africa’s President Kgalema Motlanthe has joined world leaders at the G20 Summit, scheduled to start on Thursday in London . He is being accompanied by Finance Minister Trevor Manuel and National Treasury Director-General Lesetja Kganyago.
South Africa’s participation at the London G20 Summit takes place within the con text of its continued commitment to the reformation of the global financial arch i tecture.
Foreign Affairs Minister Nkosazana Dlamini Zuma had previously indicated that "a s they look at packages to salvage their own economies, G20 countries must be thinking about the economies of developing countries, part icularly in Africa."
As the only African country in the G20, South Africa has consistently stressed t hat a global response is required to mitigate the impact of the crisis and prevent its contagion to emerging markets and developing countries, in parti cular Africa
The G20 Summit is held against the backdrop of the raging global financial crisi s and hopes to agree on a plan to restore global growth development based on stabilising global finance, by unblocking credit and taking decisive, coordinated and temporary national action to restore confidence in the financial system.
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