MEXICO CITY, June 7 (Xinhua) -- Latin America's largest economies, including Brazil, Mexico and Argentina, have heavily counted on the upcoming G20 summit to help push the sluggish global economy toward recovery and growth.
As the first Latin American country to host a G20 summit, Mexico has put substantial resources into the preparation for the meeting, scheduled for June 18-19 in its southern resort city of Los Cabos.
Mexico has also been very keen on drafting an agenda for discussion. A "priority agenda" unveiled in March by the Mexican government include topics such as green economies and food security, issues rarely highlighted at the forum which focuses mainly on economic growth and global financial stability.
Latin American observers say Mexico has gone to great lengths to put together an agenda for summit, and in the process helped shore up support for Mexican President Felipe Calderon, whose popularity has suffered from runaway crimes and social unrest.
A boost for Calderon would also mean a boon for the ruling National Action Party (PAN), as political parties are at the height of their campaigns for a hotly contested presidential elections on July 1.
Meanwhile, Brazil, Latin America's largest economy, has also taken an active part in the run-up to the G20 summit.
The Brazilian government has been promoting stability in the international financial system and the adoption of fiscal incentives to spur economic growth, as Finance Minister Guido Mantega has said that the G20 should play a greater role in world economic growth.
At a pre-summit meeting of G20 foreign ministers, Mantega proposed that two conditions be met before emerging economies pitch in to help Europe out of its debt crisis.
The first is that European nations strengthen their financial firewall and the second is that the International Monetary Fund (IMF) make necessary reforms to give emerging countries a greater say in the organization.
Argentina, another Latin American member of the G20, has limited influence within the group because of its relatively weak economy.
As a major exporter of agricultural goods, Argentina has proposed increasing agri-industry output and curb financial speculation in secondary agricultural goods so as to avoid market volatility.
Argentina is also backing the proposed IMF reform aimed at enabling emerging countries to have more say in international financial forums.
Chile, though not a G20 member, will attend the summit as a guest of host Mexico.
Chilean Foreign Minister Alfredo Moreno described Chile's participation in the G20 summit as highly important, saying it signified the international community's recognition of the Chilean economy's efficiency, stability and productivity.
Colombian President Juan Manuel Santos, whose country was also invited to attend the summit, recently told Xinhua that he will lead a Colombian delegation to the meeting and exchange views on important matters with other leaders.
The Los Cabos gathering, he hoped, will contribute to the creation of a better world economic order and the restoration of global economic stability.
Special Report: Global Financial Crisis
|
