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G-20 Finance Officials Meet Amid Policy Divisions


Finance ministers and central bankers from G-20 nations struggled to find common ground Friday as they began a two-day meeting near London on ways to ease the global recession.

The group is expected to back calls to double the International Monetary Fund's resources and expand the lender's powers to help emerging economies hit by a collapse in global demand and a sharp reduction in available credit.

But U.S. and European leaders continue to disagree whether more government spending or tighter regulation of the international financial markets is the best way to tackle the growing economic crisis.

U.S. Treasury Secretary Timothy Geithner is expected to press for a coordinated stimulus and lower taxes to spur growth. But many European leaders say instituting global rules for banks, tax havens and hedge funds is more urgent.

World Bank President Robert Zoellick urged officials to take strong and effective action, saying this is turning into a "dangerous" year for the economy.

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