Trillion-dollar cash course
Globalisation is not dead - yet. Leaders of the Group of 20 countries on Thursday agreed to a $1.1 traion (Rs 55 lakh crore) deal to combat the worst economic downturn since the Great Depression.
The G-20 leaders agreed that this sum will be made available to the world economy through the International Monetary Fund (IMF) and other institutions. This will include $250 billion of the special IMF "currency" called Special Drawing Rights.
"This money will be available for lending to all IMF members," British Prime Minister and summit host Gordon Brown said at a press conference after the summit.
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To read the ePaper, visit: http://epaper.hindustantimes.com
The G-20 leaders agreed that this sum will be made available to the world economy through the International Monetary Fund (IMF) and other institutions. This will include $250 billion of the special IMF "currency" called Special Drawing Rights.
"This money will be available for lending to all IMF members," British Prime Minister and summit host Gordon Brown said at a press conference after the summit.
To read the full article, click here..
To read the ePaper, visit: http://epaper.hindustantimes.com
Labels: British Prime Minister, G-20 leaders promise new jobs, Great Depression, International Monetary Fund, London, summit host Gordon Brown, worst economic
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