Friday, April 03, 2009

G-20 Summit

With the Conclusion of first Phase . World leaders announced a total of 1.1 Trillion Money will be flowed in the Market for improving of Economy and stability of the World Economy.

The world's press has given a largely positive reaction to the G20 summit's efforts to tackle the global financial crisis.

But some newspapers express fears that the G20's measures do not go far enough, while others question whether the pledges made in London will benefit developing countries.

New Funding includes

$500bn for the IMF to lend to struggling economies
$250bn to boost world trade
$250bn for a new IMF "overdraft facility" countries can draw on
$100bn that international development banks can lend to poorest countries
IMF will raise $6bn from selling gold reserves to increase lending for the poorest countries
Source: BBC

With many conclude that this has been a win win situation for all but it remains to be seen that Whether this does help or not !

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