Washington - President-elect Barack Obama will meet with none of the 20 world leaders descending on Washington this weekend for an emergency financial summit, the head of Obama's transition team said Tuesday.

Obama will remain in his hometown of Chicago for the weekend continuing preparations to enter the White House on January 20 and will host no foreign dignitaries, according to John Podesta, co- chairman of Obama's transition team.

Obama's team made clear last week that the president-elect would not attend Saturday's summit of the Group of 20 nations, but there had been speculation he would hold bilateral talks with some of the leaders in Washington.

"It's not appropriate for two people to show up at this meeting. The president elect will respect that we have one president at a time," Podesta told reporters.

Obama and his staff will be regularly briefed on the progress of the summit and some of Obama's closest advisors may meet with world leaders in Washington over the weekend.

"We've had requests to have meetings with representatives of the president-elect and the vice president-elect," Podesta said.

Obama has spoken by telephone with a number of world leaders who have offered their congratulations since his election November 4.

President George W Bush called the emergency summit last month to discuss efforts to halt a spiralling financial crisis that has severely cut growth around the world.

The economic crisis and passage of a second US fiscal stimulus package will be Obama's top priorities upon entering office, Podesta said.

The Obama transition team has faced pressure to get up and running as quickly as possible amid a series of a domestic and global crisis facing the next administration. Podesta suggested some key cabinet appointments could come before the end of November.

Bush welcomed Obama to the White House on Monday to discuss the transition and economic turmoil. (dpa)