Seventy-six years ago, hopes were high that an international meeting held at the Geological Museum in London would provide a boost for the economy.
G20 leaders hope support for banks, higher spending and more money for the IMF will lift the world economy out of recession by the end of 2010.
Europe is comfortable with China’s role but believes the G20 summit will be too early to decide on Beijing’s calls for more say in financial bodies.
G20 finance ministers’ agreement to give more money to multilateral development banks will play a strong role in dealing with the global recession.
G20 finance ministers promised money to rescue troubled emerging market economies and said they would use monetary firepower to combat the downturn.
China and Japan said they were ready on Friday to boost spending to fight the downturn as a rift widened over the global response to the crisis.
No image available
/ 16 January 2009
The global economic crisis is stifling investment into Africa and will put heavy strain on the region, Finance Minister Trevor Manuel said on Friday.
No image available
/ 17 November 2008
Markets appeared unimpressed Monday with an action plan from international leaders to tackle the global financial crisis.
No image available
/ 16 November 2008
World leaders pledged rapid action on Saturday to rescue a weakening global economy from the worst financial crisis in over 70 years
No image available
/ 14 November 2008
Leaders at an economic summit in the US are considering a "college of supervisors" to oversee big financial institutions, it was reported.
No image available
/ 8 November 2008
Looking to take the first steps toward revamping a global financial system ravaged by crisis, leaders gather on Saturday seeking common ground.
No image available
/ 1 September 2008
Officials from the G20 group of nations wrapped up a weekend meeting on Sunday that examined the effects of slowing world economic growth.
A grouping of the world’s top greenhouse gas emitters on Sunday backed United Nations-led efforts to forge a global pact to fight climate change but disagreed on a sectoral approach to curb emissions from industry. G20 nations held three days of talks near Tokyo to discuss ways to tackle rapidly rising emissions.