Sunday, March 15, 2009

G20 Finance Ministers endorsed the IMF capital increase.

Finance Ministers of the Greater twenty "(G20) at a meeting in the outskirts of London have agreed to increase the resources of the International Monetary Fund. That was reported by Reuters.
The meeting also agreed to increase the capital of the Asian Development Bank, which provides support to the poorest countries. In a statement following a meeting referred to the need to combat all forms of protectionism. The ministers, as reported by AFP, agreed that the restoration of the credit system should occur through the recapitalization of banks, increase the liquidity of companies with bad assets. The declaration also stresses the importance of financial market regulation and supervision over the activities of rating agencies.
As noted in the material of Bloomberg, the final declaration reflects a compromise between the position of the U.S. is pushing for more government spending, and the view of the financial authorities of the European Union, which call for a moderate expenditure and assess the effects of measures already taken. The problem of withdrawal from the world economic crisis will be discussed at the Summit of the Greater twenty April 2 in London.

No comments: