Suggestions for G20
March 16th, 2009
Last week an international global health conference at Chatham House London, included a session on the financial crisis. I chaired that session and I asked delegates what they wanted to ask the G20. We had a lively discussion! I have listed some of the delegates suggestions below. Rhona MacDonald
- During the G20 discuss issues regarding cancelling existing debts in Africa
- Emphases and encourage fair trade promotion to strengthen African markets
- Encourage a level playing field in purchasing African goods and products.
- All major banks have sixty billion in paper money. We are only 20% of the way towards solving the discrepancy gap (between paper money and actual financial backing/holdings). We have to nationalize banks and not repeat the Japanese experience. We need to avoid zombie banks and get lending going to finance companies.
- The money leaving Africa is in billions and untaxed. We need to enable countries to use aid money by stopping IMF from self-contradiction. This is in the hands of Gordon Brown and the G20 and it can happen immediately. We need to increase domestic revenue and provide for health and education. We can not say that because of the financial crisis we can not increase aid. This will debilitate developing health care systems.
- Social safety nets are a key instrument; preserving long term human capital and: Invest in social protection of universal basic services for women and children.
- Why are African countries struggling in the first place? We should cancel or reduce existing debts and try to encourage fair trade promotion. We should promote upholding the MDGs at the grass-roots level. Strengthening the health system will address inequalities.
- We should allow receiving nations to establish their own infrastructures. With a small amount of infrastructure labor and production costs are low. Developed nations that are feeling the burden of health care costs and supply production should move the health care industry to developing nations.
- Governments should unlearn what they know as national leaders. People need resiliency, i.e. jobs, for a basic level of health. Place emphasis on financing small business and keeping jobs.
- Harmonize and follow the Paris principle. People should share the burden and designate a lead country from a region to rationalize expenditure. Don’t underestimate human capacity at the grass roots level.
- We need to see the bottom billion and approach poverty in a concerted way. Include poverty in the global public good. (Instead of) GNP growth we need new measures of progress- the (health of) the environment and human health and well-being. We need a political mechanism to highlight political responsibility.
- We need financial people to reform financial institutions. Don’t call for more of the same.
- Encourage micro-finance and lending to small businesses. Reform banking institutions to address the public need. From an Africa perspective, move towards financial independence to support health services locally.
- Scrap tax havens! They’ve got the money we need. Also nationalise the banks.
- Invest in women’s health education and girls’ education. In general in developing countries women are the driving force of the economy: enable setting up small scale businesses by mini loans and women’s banks.