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Friday, Dec. 20
The Indiana Daily Student

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World leaders to meet on economy in Washington

World leaders will meet Nov. 15 in Washington to address the global financial crisis – the first in a series of summits to mitigate what economists predict could be a long and deep downturn, a senior Bush administration official said.

The first meeting will be held to discuss underlying causes of the financial crisis, review progress being made to address it and start developing reforms needed to ensure it does not happen again, the official said, speaking on condition of anonymity because the summit had not been formally announced.

This will be the first in a series of summits that bring together leaders from countries that participate in the G-20 finance process to discuss current economic challenges. The so-called G-20 includes the Group of Seven advanced industrial countries and the European Union as well as China, Brazil, India, Russia, South Korea and other major economies.

At the first meeting, working groups will be set up to develop recommendations to be considered by leaders in subsequent summits. The White House will host a dinner on the eve of the summit. The location of the meeting, however, has not yet been announced.

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