G-20 Taking on Permanent Coordinating Role

An administration official says that the Group of 20 nations will assume the role of a permanent council on global economic cooperation.

The official, who spoke on condition of anonymity before the official announcement, said the Group of Eight major industrial nations would continue to meet on matters of common importance such as national security.

But this official said that the historic function of a group that serves as a board of directors for the global economy will be taken over by the larger G-20. That group includes the biggest industrial countries, plus major emerging economies such as China, Brazil and India.

The official said President Barack Obama initiated the move and it will be announced Friday.