Australian PM to attend G20 with economy in good shape

(Xinhua)
Updated: 2009-09-18 16:35

Australian Prime Minister Kevin Rudd will meet world leaders in the United States next week, as the only government leader present with an economy not in recession, Australian Associated Press reported on Friday.

Rudd will fly to New York on Saturday for a seven day visit where he will attend the United Nations general assembly  before heading to Pittsburgh, Pennsylvania, on Thursday for the Group of 20 (G20) meeting of major developed and developing nations.

World leaders from the Africa, Americas, Asia and Europe will gather in the industrial city of Pittsburgh to take stock a year after the global financial crisis erupted, triggered by the collapse of Lehman Brothers bank.

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Rudd and Treasurer Wayne Swan will take heart from an Organization for Economic Cooperation and Development report released on Wednesday which noted Australia's more than A$50 billion ($43.5 billion) in stimulus spending had prevented the loss of 200,000 jobs.

Rudd told parliament this week, "We cannot rest on our laurels because the Australian financial sector is in fact deeply integrated with global markets and therefore must be part of the global reform effort."

Climate change groups are looking for progress at G20 on agreement on financing arrangements to assist developing nations to make the changes necessary to reduce greenhouse gas emissions.

Described as "a deal breaker" it will require nations to come up with funds to ensure the global effort to fight climate change works.

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