G20 TO TRY FOR NEW ECONOMIC ORDER

Seoul, Oct. 11 (UPI) - The upcoming G20 summit in Seoul is expected to lay the basis for a post-crisis economic order to promote sustainable development, economists say.

The Yonhap news agency reported experts from the state-run Korea Institute for International Economic Policy and the Korea Institute of Finance said that while disputes may not be resolved, some understanding of reforms and balanced growth should be achieved.

"The Seoul meeting is expected to mark a turning point in the role of the G20 from one focused on managing a global financial crisis to a gathering that aims to regulate a new economic order," Yoon Deok-ryong, a senior fellow and head of the KIEP's G20 research team, said before the start of the summit, set for Nov. 11-12.

"There are details to be ironed out about eligibility and other issues, but creating a 'precautionary credit line' in the (International Monetary Fund) to help ease emergency liquidity problems of fundamentally sound countries has secured support," he said, Yonhap reported.

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