Would the key measures approved in the recent G-20 Summit bail developing countries out of the global financial crisis?

Two key points were agreed on by world leaders in the recently concluded G-20 Summit in London. One related to the funds available to international institutions to help poor or struggling economies to withstand the crisis, and the second on tougher global regulation of financial markets.

The International Monetary Fund is the biggest beneficiary of the first set of measures. Its $250 billion reserves will be tripled to enable it to better help stricken countries in the developing world. The leaders also agreed to provide an additional $250 billion in guarantees for export credits and other trade finance, which have dried up in the past few months and led to a drastic drop in global commerce.

The other key set of decisions concerns financial regulation and corporate behavior in a wider sense. Under the deal, hedge funds and other financial-market players will be subject to far greater - and properly coordinated - international scrutiny, as will big banks with activities in several countries.

What’s in it for the Philippines? Would it make any difference to the rural poor communities?