At a G20 summit, they also signed off on plans to commission blacklists of tax havens and tighten financial rules to bring hedge funds and credit rating agencies under closer supervision.
British prime minister said that the world has come together to fight against recession not with words but also with a plan... of course he was correct here were starting our war against the economic shut down.
The world share market saw a positive outcome, with the shares of United Kingdom was up by 5%, japan gained 4.4%, and even NASDAQ gained 4%. All these increase in world share markets shows us some positive out come form this huge problem what we are facing now.
A new one trillion dollar will be created to solve the problem of great recession. The funds will be created International Monetary Fund(IMF). This will include $250 billion IMF reserve fund called Special drawing rights.
The G20 has also come out with a supporting hand for trade,with its new $250 billion financial package, for the next 2 years. In order to bring world economy to a proper track G20 injected 1.1 trillion.
The group has also plan the increase the IMF funds up to $750 billion. That is the Group has planned increase $500 billion in IMF funds. Out of which all the nations can get some support from IMF for its improvement.
With all this happenings, we can surely come out this attack. German and France has come out saying that spending wont solve this problem, only a tight financial norm can solve this issue out.
