G-20, the group of world's leading industrialised and developing countries, has agreed to continue supporting the global economic recovery. After a meeting of Finance Ministers in Scotland, the G-20 in a statement said, though the conditions have improved, economic and financial recovery was uneven with higher unemployment, an area of particular concern. The British Chancellor of the Exchequer Alistair Darling said that the threat of a downturn has receded but it was too early to withdraw emergency support.Earlier, British PM Gordon Brown called for creation of a fund for bank bailouts, possibly paid up through a tax on transactions. But the proposal received a lukewarm response from other G-20 countries.The G-20 countries also promised to step up efforts to tackle climate change and work towards an ambitious outcome at next month's climate conference in Copenhagen.
News On AIR | November 8, 2009 9:12 AM
G-20 wants stimulus packages to continue