Peru: Developing Nations Want More Say

Latin America’s Pacific Alliance countries, namely Peru, Chile, Colombia and Mexico, gathered on the sidelines of IMF-World Bank annual meeting this week. They said the sharp decline in the prices of raw materials exported is a major challenge for the bloc, representing about 35 % of their Gross Domestic Products in Latin America. At the same time, the Group of 24 nations representing the developing world says that its members want a greater role in institutions governing the economy. Actor Sean Penn, who attended the meeting, said that urgent action is required to combat climate change. teleSUR