Zumba Calls For International Economic Improvement
19 June 2012 16:00 - Phoebe Robinson


Zumba Calls For International Economic Improvement

The South African President Jacob Zuma accompanied by the Minister of Finance Pravin Gordhan, has arrived in Los Cabos, Mexico for the G20 Summit. The PM has shown concern over the Eurozone crisis and at the Summit has stressed the need to reform the international financial system and the need for a greater voice and representation for developing countries, especially African countries.

Moreover South Africa’s aim in the G20 Summit is also to promote meaningful economic relations with the rest of the world which will enable successful inclusive and sustainable growth, contributing to the reduction of poverty, inequality and unemployment. It also aspires to achieve a better Africa and contributing to a better and just world.

It seems, however the dramas in the European economies will take president over other issues as they are already having a negative impact over the global financial markets. Zuma is urging Europe to work together as quickly as possible to resolve the debt crisis which has created uncertainty in the global economy. "The prolonged global crisis is placing pressure on national budgets, which would be to the detriment of the social spending that is much needed on the continent in the current environment," he said

Zuma feels that the G20 members need to put the interests of the world economy ahead of the more short term national interests and that the crisis in Europe should not push development issues to the bottom of the agenda.