G-20 leaders agree over US$1 tln in financing for the world economy

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Source: CCTV.com | 04-03-2009 13:48

The second G-20 summit on the global financial crisis is over. Meeting in London, world leaders agreed to more than one trillion US dollars in financing for the world economy and to shore up the financial system.

The second G-20 summit on the global financial crisis is over. Meeting in London, world leaders agreed to more than one trillion US dollars in financing for the world economy and to shore up the financial system.

Emerging from the one day summit of G-20 leaders, the British prime minister sounded hopeful.

Gordon Brown believes a turning point has been reached in steering the global economy through its worst downturn since the 1930s.

Gordon Brown, British Prime Minister, said, "This is the day the world came together to fight back against the global recession. Not with words, but with a plan for global recovery and reform and with a clear timetable for its delivery."

What they agreed on that IMF and the World Bank will carry out reforms to give emerging markets and developing countries greater say.