G-20 finance officials commit to economic stimulus measures until recovery takes hold; UK retreats from “Tobin tax” proposal
Nov 9th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Finance officials from the Group of 20 (G-20) industrialised and emerging market economies, pledged at a weekend meeting in St. Andrews, Scotland, to maintain economic stimulus measures until recovery from the global crisis is assured and asked the IMF (International Monetary Fund) to assess whether countries were on track for delivering strong, sustainable, and balanced growth to avoid future problems. However, the UK retreated from a proposal for a financial transactions' levy known as a "Tobin tax."