G-20 Leaders Agree to Dole Out $1 Trillion to IMF & World Bank

AP: While the leaders did not announce any new stimulus measures—as some in the United States had hoped— British Prime Minister Gordon Brown said the $1 trillion deal to boost funds for the International Monetary Fund, World Bank and other global institutions was unprecedented.



“For the first time we have a common approach to cleaning up banks around the world to restructuring of the world financial system. We have maintained our commitment to help the world’s poorest,” Brown said. “This is a collective action of people around the world working at their best.”