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Global Finance Leaders Agree to Boost IMF
Date: 3/14/2009 7:28:13 AM Sender: VOA News
Global Finance Leaders Agree to Boost IMF  
By VOA News
14 March 2009

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G-20 finance ministers and central bankers gather for photograph at meeting near Horsham in England, 14 Mar 2009

Economic leaders from rich and emerging countries are expected to announce plans to boost funding of the International Monetary Fund to help the countries hit hardest by the global recession.

Finance ministers from the Group of 20 nations, holding talks near London Saturday, plan to expand the power of the IMF, which has extended billions of dollars in loans to several struggling countries.

Meantime, G-20 economic leaders are still trying to resolve deep divisions on how to reverse the global recession, ahead of the summit of national leaders scheduled for next month.

U.S. and European leaders disagree on whether more government spending is necessary to stimulate the economy, or if tighter regulation of the financial markets is more urgently needed.

German Chancellor Angela Merkel said she is optimistic that agreement can be reached with the United States, and with emerging economies.

She spoke Saturday following a meeting in London with British Prime Minister Gordon Brown, who called for a revised international regulatory system.

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