Geithner Urges G20 to Pump Up Global Economy

Treasury seeks billions to help IMF prop up struggling nations
By Rob Quinn,  Newser Staff
Posted Mar 12, 2009 6:57 AM CDT

(Newser) – Tim Geithner is calling on the other G20 nations to help the US get the global economy back on its feet, the Washington Post reports. The Treasury secretary, who leaves for a G20 summit tomorrow, said in a briefing yesterday the administration plans to ask Congress for another $100 billion to help the IMF aid the worst-hit economies, and urged other leaders to substantially increase their contributions.

Geithner called for forceful, concerted G20 action to combat the global downturn through aggressive government spending. European finance ministers—largely reluctant to increase their own stimulus packages—signaled that they would be willing to boost IMF funding, but suggested cash-rich countries like China and Saudi Arabia should be making more of a contribution.