G20 leaders met for the second time in London on 2 April, as the global economic crisis began to crash across the borders of poor countries with ever-greater severity.

Oxfam’s research shows rising human impacts in the shape of job losses, falling remittances to the families of migrant workers and a particularly severe impact on women workers in global supply chains. Based on the latest forecasts, published on the eve of the summit, Oxfam estimates that the crisis could push 100 million people into poverty in 2009 alone.
Against this backdrop, how did the G20 leaders perform? After a summit, leaders invariably claim success, seeking to extract the maximum political mileage from their efforts. This paper provides an independent assessment of the G20 process and the three documents released on the day of the summit. It should be noted, however, that the true significance of many of the agreements signed on 2 April will only emerge over the coming months and years.
Our overall analysis is that the Summit itself could prove an historic moment in a critical year for the twin crises of climate change and economic meltdown. It could mark a global power shift towards the large developing countries such as China, India and Brazil, and the partial eclipse of the old G8 club. The decisions and declarations were, as with any such event, a mixed bag.

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