$1.1 Trillion To Boost Global Economy
May 16th, 2009
In the G20 summit held in London, the world’s biggest economies pledged an additional $1.1 trillion to boost up the global economy. The British Prime Minister Gordon Brown stated that there was a substantial agreement which is on the need to do things that would restore growth. The summit also agreed for a set of principles to restructure the global banking. The leaders also agreed to treble the resources which were available to the IMF. There were other agreements like the biggest stimulus package in the history and biggest interest rate cut and also biggest infusion of resources into the multilateral institutions.