G-20 Vows to Spur Lending

By Harry Kimball,  Newser Staff
Posted Mar 14, 2009 1:53 PM CDT
Finance ministers and central bankers from the Group of 20 nations.   (AP Photo)
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(Newser) – The world's top financial officials promised a three-tiered approach to battling the global economic slowdown today, the Wall Street Journal reports. At the G-20 summit in England, finance ministers vowed to inject money into the IMF and other institutions to lend to struggling countries, while tackling banks' toxic assets and regulating hedge funds.

"We have a very broad basis of consensus globally on the need to act aggressively to restore growth to the global economy and a commitment to move together to address the evolving crisis," said Treasury chief Tim Geithner afterward.