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Date and page printing time: November 21th 2009 01:49 GMT
Trade's Tools | The FOREX market news
DJMN: G7 Source: G20 Progress On Climate Change Looks Difficult
ST. ANDREWS, SCOTLAND (Dow Jones)--Significant progress on climate change issues at this weekend's meeting of finance officials from the Group of 20 leading economies looks very difficult, a source at a delegation from a member of the Group of Seven leading developed economies said Saturday.
The source said that developing countries in particular were throwing up roadblocks to progress ahead of next month's Copenhagen summit, which will seek to agree a new global deal on climate change.
The weekend's G20 meeting was tasked with making progress on the vexed issue of financing efforts by developing countries to combat climate change. That includes ensuring that any financial support given to developing nations would be used wisely.
The source also said that the communique to be issued at the conclusion of the meetings will reiterate the call for stimulus measures to stay in place until the global economic recovery is entrenched.
However the official said he expected the statement to give more specifics on planning for exit strategies, including a pledge to cooperate on the timing of withdrawing antirecession measures.
Another official said that, as usual, the G20 communique would not include any specific reference to currencies.
-By Laurence Norman, Dow Jones Newswires; 44-207-842-9270; laurence.norman@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=JRpYnFx6gH%2FEWyKsVCS9MA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
November 07, 2009 05:24 ET (10:24 GMT)
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