Gautam Chikermane, Hindustan Times
London, April 02, 2009
Globalisation is not dead – yet. Leaders of the Group of 20 countries on Thursday agreed to a $1.1 trillion (Rs 55 lakh crore) deal to combat the worst economic downturn since the Great Depression.
The G-20 leaders agreed that this sum will be made available to the world economy through the International Monetary Fund (IMF) and other institutions. This will include $250 billion of the special IMF “currency” called Special Drawing Rights.
“This money will be available for lending to all IMF members,” British Prime Minister and summit host Gordon Brown said at a press conference after the summit.
Story in Hindustan Times