G20 leaders on Thursday declared their summit a “fight back” against recession as global markets surged after they agreed to toughen financial regulation and channel more funds to the IMF. UK leader Gordon Brown, the summit’s host, hailed a “new world order” as he unveiled what leaders said was a $1,100bn package of steps to tackle the global downturn, including a $250bn plan to boost the international money supply. See G20 communique here.

This entry was posted by Gwen Robinson on Friday, April 3rd, 2009 at 5:10 and is filed under Capital markets. Edit this entry.