G-15 News: Mexico

The Purpose of The Group of 15 Summit

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The G15, a group of 17 developing countries from Asia, Africa and Latin America, was set up to foster cooperation and provide input for other international groups, such as the World Trade Organization and the Group of Seven rich industrialized nations. 
Current Composition 
 
The G15 is comprised of Algeria, Argentina, Brazil, Chile, Egypt, India, Indonesia, Iran, Nigeria, Jamaica, Kenya, Nigeria, Malaysia, Mexico, Peru, Senegal, Sri Lanka, Venezuela and Zimbabwe 
 
Latest News 
 
MONTEGO BAY, Jamaica (Reuters) - Leaders from developing countries moved to an exclusive Jamaican country club Thursday to put the finishing touches on proposals to ease the world's financial crisis. 
 
The one-day retreat, modeled on the closed-door leaders' meetings held at some other international events, will give heads of delegations to the Group of 15 summit the chance to talk without ministers or aides present. 
 
Officials said they would debate a few proposed changes to a draft communique, including a suggestion from Malaysia's outspoken leader, Mahathir Mohamad, to ``emphasize the need for both the developed and the developing world to have a voice in the process of reforming the international financial system.'' 
 
Officials said the document also will include proposals to reform the International Monetary Fund, which many delegates have criticized for proposing inappropriate recipes to the troubled economies of Asia and Latin America. 
 
``We want to look at the multilateral institutions,'' Nigerian Planning Minister Rasheed Gbadamosi told Reuters. ''Maybe there are not enough resources available to the IMF.'' 
 
The G15, a group of 17 developing countries from Asia, Africa and Latin America, was set up to foster cooperation and provide input for other international groups, such as the World Trade Organization and the Group of Seven rich industrialized nations. 
 
The G15 is comprised of Algeria, Argentina, Brazil, Chile, Egypt, India, Indonesia, Jamaica, Kenya, Nigeria, Malaysia, Mexico, Peru, Senegal, Sri Lanka, Venezuela and Zimbabwe. 
 
Delegates admit the countries do not see eye to eye on all trade, development and finance issues, but they say the leaders want to step up cooperation and speak with a single voice at other international gatherings. 
 
But all but one of the G15 Latin American heads of state stayed away from the Jamaica summit, some of them for the third or fourth successive time, and officials from the host country could barely hide their disappointment. 
 
``Within the Asian and African representations, there is sometimes a feeling that within our region there is less than full, unqualified commitment,'' said Anthony Hill, the Jamaican prime minister's representative at the talks. 
 
The G15 countries include both open economies such as Mexico and Argentina and those which, like Malaysia, are seeking to control capital flows. 
 
Mahathir said Wednesday that the unbridled movement of money across borders had impoverished Asia's once-proud tiger economies and put their very independence at risk. 
 
``The great Asian tigers are now no more,'' he said. ''Reduced to whimpering and begging, they are but a shadow of their former selves.''</div>

The Purpose of The Group of 15 Summit

The G15, a group of 17 developing countries from Asia, Africa and Latin America, was set up to foster cooperation and provide input for o...

Tehran to host G15 summit

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Iran's Foreign Ministry spokesman says an upcoming meeting of the Group of 15 (G15) will present a good opportunity for cooperation to member states. 
 
Ramin Mehmanparast said the 14th Summit of the G15 will be held in Tehran on May 17. 
 
"The summit, which will bring together representatives from important countries, will provide a great capacity for expansion of economic [ties] and political cooperation (among member states,)", the Fars news agency quoted Mehmanparast as saying on Monday. 
 
He noted that Brazilian President Luiz Inacio Lula da Silva and Sri Lankan President Mahinda Rajapaksa are among the senior guests attending the summit. 
 
The Group of 15 was established at the 9th Non-Aligned Movement Summit Meeting in Belgrade, Yugoslavia, in September 1989, with a common goal of enhanced growth and prosperity in its member states. 
 
The number of the G15 members has expanded to 18 countries from North America, South America, Asia and Africa, but the name has remained unchanged.</div>