G20 ministers meet to discuss recession

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Source: Guardian

The G20 meeting in Horsham foreshadows the G20 heads of government summit in London in April when Prime Minister Gordon Brown has his sights set on a "global new deal".

The British Chancellor Alistair Darling will be urging his counterparts to sign up to recession-fighting fiscal stimulus measures similar to those adopted by the Treasury.

He and Mr Brown, who will be receiving German Chancellor Angela Merkel in Downing Street on Saturday, also want the world to agree new systems of financial regulation.

They are calling for reform of the International Monetary Fund and the World Bank, as well as rules to ensure financial institutions build up a "buffer" of cash in good years to allow them to continue lending during a downturn.



Read more: http://www.telegraph.co.uk/finance/financetopics/g20-summit/4989547/G20-minsters-meet-to-discuss-recession.html