| | |  Americas & Beyond | July 2009 
G5: Not Second-Class Citizens
 Carmen Martínez - RUMBO de México
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July 09, 2009
| | (Andrew Medichini/Associated Press) | |
L'Aquila, Italy - The presidents of Mexico, Brazil, China, India and South Africa Wednesday said they will demand the increased participation of undeveloped nations in international financial institutions to prevent economic crisises such as the current one in which these countries are treated as "second- class citizens."
After a meeting of the leaders of the Group of 5 (G5) nations, Mexico President Felipe Calderón underlined the need to make a balance of commitments among nations, developed or not.
"We're specially concerned with the funneling of resources to establish international credit, particularly for developing nations, where credit and investment have been particularly reduced by the crisis," Calderón said.
He added that the G5 nations are interested in "follow-up procedures to give increased relevance to developing nations within financial institutions", he added.
Brazil president Luiz Inacio Lula da Silva considers that developing nations have sufficient tools to participate in decisions which are being made solely by wealthier nations.
"The poorer nations have the right to access their own raw materials. We do not want to be second class citizens, we want to be part of the group that runs the world."
In terms of presence, the G5 soon turned into the G4, as Chinese president Hu Jintao excused himself from the gathering as he had to return to China to solve the problems arising from regional confrontations that have left hundreds of people dead and forced the intervention of the Red Army.
The leaders also showed concern for the protectionist measures that developed nations have imposed on investment and trade that have deeply affected G5 countries.
President Calderón had a busy day, meeting with South African president Jacob Gedleyihlekisa and Brazil's Lula da Silva on the possibility of participating in the G20 meeting of nations to be held in Pittsburgh in 2010.
They also discussed the importance of the G5 as a leading block to represent less developed nations in international affairs. |
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