Snap Fact #184
President Obama Promoted Substantive Outcome of the 2009 G-20 Summit in London!

The G20 meetings were held on April 2009 in London. The meetings highlighted global economic problems, with a focus on addressing and proposing solutions to these problems. With a backdrop of major street protests, the leaders of the world’s most powerful countries discussed the serious economic crises facing the world. President Obama participated personally in this process. He met with various world leaders from Russia, China, France, England, etc. (see participant list below) to further the interests of the United States. Although a newcomer to the Presidency, and a newcomer to this group, President Obama was treated with deference and he immediately became the de facto leader of the pack.

The G-20 addressed the worldwide economic recession. President Obama negotiated with other world leaders and helped forge an historic response to the magnitude of the problems. Among other things, there was a pledge of 1.1 trillion dollars, in pursuit of global economic recovery. Prior to this meeting, there had not been such a coming together of the nations of the world to address these worldwide problems. 

Some of the solutions offered were attempts to revive the world economy, restore lending, impose tougher rules on banks, have a bigger role for the International Monetary Fund (by tripling it's capacity), provide more help for developing countries, and avoid protectionism.

President Obama underscored the need for growth and job creation, as well as loans by banks. The President stressed reforming the regulatory system that had failed to curb the recession. While he stressed helping developing countries, he pointed out that these were parts of the markets that would be able to purchase goods, thus highlighting the interconnectedness of these endeavors.
G-20 members
Host nation and leader are indicated in bold text.
Member Represented by Title
Argentina Argentina Cristina Fernández de Kirchner President
Australia Australia Kevin Rudd Prime Minister
Brazil Brazil Luiz Inácio Lula da Silva President
Canada Canada Stephen Harper Prime Minister
China China Hu Jintao President
France France Nicolas Sarkozy President
Germany Germany Angela Merkel Chancellor
India India Manmohan Singh Prime Minister
Indonesia Indonesia Susilo Bambang Yudhoyono President
Italy Italy Silvio Berlusconi Prime Minister
Japan Japan Taro Aso Prime Minister
Mexico Mexico Felipe Calderón President
Russia Russia Dmitry Medvedev President
Saudi Arabia Saudi Arabia Abdullah bin Abdul Aziz King
South Africa South Africa Kgalema Motlanthe President
South Korea South Korea Lee Myung-bak President
Turkey Turkey Recep Tayyip Erdoğan Prime Minister
United Kingdom United Kingdom Gordon Brown Prime Minister
United States United States Barack Obama President
European Union European Commission Jose Manuel Barroso President
European Council Mirek Topolánek President