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Global Finance Leaders Agree on Aid for Struggling Economies

  • VOA News

Finance ministers from the Group of 20 developed and emerging countries have agreed on the need to make more aid available to troubled emerging economies.

At a meeting Saturday near London, the ministers issued a statement on the need to increase funding for the International Monetary Fund to help countries hit hardest by the recession.

Following talks near London, the G-20 ministers said resources should be expanded at the IMF. The international bank has loaned billions of dollars to struggling countries.

The ministers said support should also be given to the Asian Development Bank.

The G-20 group agreed to do "whatever is necessary" to boost the world economy. But they also said they would avoid protectionist measures, and seek to maintain open trade and investment.


U.S. Treasury Secretary Timothy Geithner said after Saturday's meeting that the high-level of commitment shown by members will help economic recovery come more quickly.

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