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Hu urges help for developing nations to cope with financial crisis

(Xinhua)
Updated: 2008-11-16 09:22

WASHINGTON - Chinese President Hu Jintao on Saturday called for international efforts to help developing countries and the least developed countries cope with the global financial crisis.

U.S. President George W. Bush (R) greets Chinese President Hu Jintao at the G20 Summit on Financial Markets and the World Economy at the National Building Museum in Washington, November 15, 2008.[Agencies]

"When coping with the financial crisis, the international community should pay particular attention to the damage of the crisis on developing countries, especially the least developed countries (LDCs), and do all it can to minimize the damage," Hu told a summit meeting of the Group of Twenty (G20) on financial markets and the world economy.

It is necessary to help developing countries maintain financial stability and economic growth, sustain and increase assistance to developing countries, and maintain economic and financial stability in developing countries, he said.

President Hu arrived here Friday afternoon for the financial summit at the invitation of U.S. President George W. Bush.

Also attending the meeting are leaders of other G20 members and representatives of some international organizations.

The G20 groups Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, Britain, the United States, and the European Union and the Bretton Woods Institutions, namely the International Monetary Fund (IMF) and the World Bank.