Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

2014-07-11 21:47 AFRICA NEWS

Read more

MEDIAWATCH

Finally, a good use for new app "Yo"

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014

Read more

REPORTERS

Exclusive: an unlikely victim of the 'War on Terror'

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

FRANCE IN FOCUS

Politics: parties under pressure

Read more

FOCUS

In Burma, the rise of radical Buddhism

Read more

ENCORE!

Haute Couture: the hand-stitched clothing made in Paris that sells for the price of small yachts

Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • Exclusive: an unlikely victim of the 'War on Terror'

    Read more

  • Netanyahu resists international pressure to stop air strikes on Gaza

    Read more

  • The third-place playoff: the World Cup game no one wants to play

    Read more

  • Suspect in Brussels Jewish Museum shooting drops extradition appeal

    Read more

  • Kurdish forces take over two oilfields in northern Iraq

    Read more

  • Are French high school students getting smarter?

    Read more

  • Italy’s Trentin wins seventh stage of Tour de France

    Read more

  • Disgraced Suarez leaves Liverpool for Barcelona

    Read more

  • In pictures: Chanel, Dior and so much more at the Paris couture shows

    Read more

  • French ‘Civic Service’ eyes massive expansion amid huge demand

    Read more

  • In Pictures: Petrol station hit by Hamas rockets

    Read more

  • Manhunt as FIFA partner flees Rio hotel to avoid arrest

    Read more

  • Video: Palestinians fear full Israeli military offensive in Gaza

    Read more

  • Ukrainian forces close in on Donetsk

    Read more

Business

G20 ministers pledge to boost world economy

©

Video by Olivia SALAZAR-WINSPEAR

Latest update : 2009-03-15

Finance ministers of the world's 20 biggest economies met near London on Saturday to discuss reforms ahead of the G20 summit on April 2. The UK's Alistair Darling (photo) stressed the need to restore lending and boost IMF resources.

AFP - The G20 has a "clear sense of direction" ahead of an April summit and will take "whatever action necessary" to boost the world economy, Britain said after a ministerial meeting Saturday.
   
Its finance minister Alistair Darling, who hosted the G20 finance ministers talks outside London, said afterwards there was an "urgent need to increase IMF resources very substantially" although he did not give a figure.
   
"We're prepared to take whatever action is necessary to ensure growth is restored and we're committed to do that for however long it takes to do that," he said.
   
Darling said the G20 would ensure there was "sufficient supervision and regulation" of hedge funds.
   
"In addition to that, we agreed that stronger regulation... was necessary to prevent the build-up of systemic risk.
   
"We also agreed that we need to do more both to strengthen banks in the good times so they can face the downturn should that occur", including measures that would see regulators stop banks from overextending themselves, he said.
   
He added: "Taken together, I believe that this does provide a very clear sense of direction as we move towards the conference of leaders and finance ministers to be held in London on April 2.
   
"We agreed a significant amount of progress, there was a great deal of consensus both about the urgency of the problems we face and the steps that we ought to be taking."
   
He said the meeting had also agreed to fight protectionism and protect free trade.

Date created : 2009-03-14

Comments

COMMENT(S)