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IPFS News Link • Federal Reserve

G20 highlights changing world order

09-07-2009 • The Star

20 finance leaders have agreed to coordinate a removal of emergency economic packages when recovery takes firm hold, but they struggled on the detail of measures to rein in bank pay and lending rules at the root of the recent crisis.With the global economy looking brighter than it had in April when Group of 20 finance ministers and central bankers last met, the focus shifted from crisis-fighting to figuring out how to establish a safer financial system for the future. The G20 statement Saturday showed agreement that emerging nations such as India and China should have a greater say in the running of the International Monetary Fund and World Bank but did not offer up any formula of how this should be achieved.

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