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Brazil's Lula warns G20 on slow IMF reforms, trade

Published 09/23/2009, 08:55 AM
Updated 09/23/2009, 08:57 AM

SAO PAULO, Sept 23 (Reuters) - The lack of will by developed nations to reform multilateral organizations and push global climate and trade deals threatens the success of the G20 group of leading economies, Brazil's President Luiz Inacio Lula da Silva said on Wednesday.

The leaders of the G20 are set to meet in Pittsburgh on Thursday and Friday.

"We are concerned with the reluctance of developed countries to advance the reform agenda of the Bretton Woods institutions," Lula said in an article published in O Estado de S.Paulo newspaper, referring to the International Monetary Fund and World Bank.

Brazil, China and other emerging market nations have called for greater voting power for themselves at the IMF and increased participation in global financial discussions.

"We also don't understand the resistance of industrialized nations to do their part in combating global warming," Lula said in the article.

Signs of protectionism and paralysis of the Doha round of global trade talks are unacceptable, the former union leader added.

Banks are repeating mistakes that helped cause the global financial crisis and bankers continue to receive generous pay, "while millions of men and women lose their jobs," Lula said.

"Such attitudes threaten the London summit's main achievement: the recognition that the challenges of a globalized planet will not be met without the active involvement of all," Lula said in reference to a meeting of the G20 in London earlier this year.

"Our decisions must be made in a more transparent and representative manner."

(Reporting by Elzio Barreto; editing by Raymond Colitt and Will Dunham)

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