The economies of many countries outside the G-7, such as South Korea, have been harmed by the credit crisis, said Douglas Rediker of the New America Foundation think tank.

They may be especially put out after following the advice of the United States and IMF and building reserves after the Asian financial crisis 10 years ago, only to now be hurt by the United States' profligate ways, he said.

But by calling for a G-20 meeting, the United States may be able to keep the recriminations behind closed doors, rather than out in public, Truman said.

The meeting is unlikely to achieve any major breakthroughs, the analysts said. The likely result is a "fairly vague statement of support" for whatever the G-7 says in its communique Friday night, Johnson said.

Still, it could set the stage for a broader move to reform organizations like the IMF and World Bank, Rediker said, which many developing countries feel are unfairly dominated by the United States and Europe.

"This could be the starting point of a global discussion on how to ensure that (the financial crisis) doesn't happen again," he said. LINK