Dear list members
Request to add your signature to the letter from economists* to G20
The World Development Movement, an anti-poverty NGO, is co-ordinating a public letter from economists that will be sent to the G20 finance ministers ahead of their meeting on 14-15 October 2011, calling on them to take urgent action to regulate excessive speculation on food prices.
Excessive financial speculation is fuelling high and volatile food prices, exacerbating global hunger and poverty. There is now a unique opportunity for action to curb speculation, with measures under consideration in the US, EU and at the G20. Agreement by the G20 on the need to curb speculation would add vital impetus to the relevant financial reforms.
Please find the letter attached. We have already had over 250 signatories from economists in the North and South America, Africa, Asia and Europe. We are aiming for 1000 signatories in total to make a big impact at the G20 meeting.
If you are happy to add your name as a signatory to this letter, then please send an email with your title, full name and institution to Tom Pursey ([log in to unmask]), who is co-ordinating this letter.
I must urge you to please send on this letter to any other economists that you know who might be willing to sign.
The attached letter is based on the following sources:
· FAO, IFAD, IMF, OECD, UNCTAD, WFP, the World Bank, the WTO, IFPRI and the UN HLTF (2011) Price Volatility in Food and Agricultural Markets: Policy Responses.
· High Level Panel of Experts on food security, FAO Committee on World Food Security (2011) Price volatility and food security.
· UNCTAD (2011) Price formation in financialized commodity markets: the role of information.
· UNCTAD (2009) Trade and development report. Chapter II: The financialization of commodity markets.
For further information about the World Development Movement’s campaign, visit www.wdm.org.uk/food.
*We must strictly keep this to people who have professional academic or occupational ties to economics.
Tom Pursey
Campaigns and policy assistant
World Development Movement
66 Offley Road, London, SW9 0LS
T: 02078204900
F: 02078204949