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Behind the Headlines: Toronto Summit(s) and Development

The G-8 and G-20 summits held in Canada last week yielded few headlines on development issues, but there was plenty of rhetoric about global interdependence and poverty reduction and a handful of promising, if mostly modest, development initiatives just below the media’s radar.

As expected, the G-20 declaration focused on when and how to unwind stimulus programs that helped to avert a global economic collapse, and on strengthening regulation of the financial sector to avoid a repeat of the 2008–09 financial crisis.