G-20 TWO

The Pittsburgh summit will review the measures that were
taken as a follow-up of the London summit in March and one
before that in Washington that was held immediately after the
breakout of the financial crisis.

The leaders can be expected to review the
international financial slowdown and the current economy
parameters in the context of "green shoots" of recovery
noticed off late, Rao said.

The summit is also likely to take a long-term view of
the economy and review impact of the measures already adopted
before proceeding cautiously about the future.

It will also focus on strengthening the regulatory
measures of the financial institutions, the lack of which had
led to the crisis last year.

The gathering is expected to send a strong political
message on the crucial issue of climate change negotiations in
the Copenhagen summit under the UN Framework Convention on
Climate Change (UNFCCC).

To a question about India's stand on Climate Change,
Rao said the country was not being diffident but developing
countries cannot deny their historic responsibility in the
issue.

The climate change problem, she said, has occurred due
to cumulative effects of development in the advance countries
which had a historic responsibility to help emerging economies
in financing technological upgradation for climate control.

The long-term measures (on climate change) have to
take centrality of the need of the developing countries, the
Foreign Secretary said. MORE PTI