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G20 should replace G8 – Brazilian president

September 25th, 2009

President Lula

The G20 should replace the G8 as the main forum for the world’s leaders, Brazilian President Luiz Inacio Lula da Silva said in an interview with the PBS TV channel.

“I believe that there is not any reason for a G8 or any other “G,” he said.

The G20 summit brought together leaders from industrialized and developing nations on September 24-25 in Pittsburg, Pennsylvania, to focus on steps to overcome the global economic crisis.

“I believe that it is very difficult in the world for you to only continue with the G8 without taking into account the importance of Brazil, China, India mainly in the world economy, because we are great consumers, large consumers and we are becoming great producers” the president added.

On Thursday leaders at the G20 summit in Pittsburg endorsed the G20 as the main economic cooperation forum.

“Leaders endorsed the G20 as the premier forum for their international economic cooperation,” the White House said in a statement on Thursday. “This decision brings to the table the countries needed to build a stronger, more balanced global economy, reform the financial system, and lift the lives of the poorest.”

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