October 4, 2009 12:27 AM

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Support measure to continue until economic recovery is assured: G-7

The world economy is growing faster than expected, but the recovery remains fragile and unemployment still looms as a problem. The Finance Ministers from the Group of Seven rich countries said after they concluded their latest meeting in Istanbul on Saturday . They said in a joint statement that decisive actions had improved conditions for the economy and financial markets. But they warned there is no room for complacency since the prospects for growth remain fragile and labour market conditions are not yet improving. Government stimulus measures such as deficit spending and rock-bottom interest rates have helped the world economy bounce back from the deepest recession since World War II, and the International Monetary Fund this week urged governments to keep these in place until the recovery has been firmly established. The finance ministers have agreed they will keep support measures until recovery is assured.

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