The global economy is emerging faster than expected from the deep recession, finance ministers from the world's leading economies, the G20, have said. After talks in Washington, they said the pace of the recovery was largely due to the huge amounts of government money pumped into national economies.
US Treasury Secretary Timothy Geithner said he welcomed the greater sense of urgency being shown over Greece. The country has asked for an EU-IMF bailout of its debt-ridden economy. Greece's finance minister is due to take part in IMF talks on Saturday. Earlier this month, a deal was agreed under which eurozone nations would make available to Greece emergency loans of up to 30bn euros ($40bn; £26bn) in the first year, with a further 10bn euros coming from the IMF (International Monetary Fund).
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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