'OECD could replace G8 and G20'

The outgoing head of the OECD, Donald Johnston, said he believes the organisation could replace the G8 and G20 as the principal forum for economic dialogue between nations, an interview with French newspaper La Tribune published on Wednesday.
Johnston, discussing the future role of the Organisation for Economic Co-operation and Development, a club that groups 30 industrialised nations, said that his successor should concentrate on recruiting new members.
Places needed to be made for big economic actors like China, India, Brazil and Russia at the OECD's table to maintain and reinforce the importance of this organisation, he said. Johnston, who will step down in May next year, said his successor might entertain that the OECD replaces the G8 and G20 to become the real centre of global economic management.
The Group of Eight brings together the world's eight richest nations and the Group of Twenty brings together the twenty biggest emerging nations.