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<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>April 2, 2009
G-20 Summit
</TR><!-- headline one : start --><TR>US$1 trillion plan unveiled <!--10 min-->
</TR><!-- headline one : end --><TR>* G20 agrees trillion-dollar deal to fight crisis
* Tax havens to be blacklisted * Financial rules tightened, more oversight of hedge funds * Measures to boost world output by 4 per cent by end 2010
</TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
</TD><TD vAlign=bottom>
Britain's Prime Minister Gordon Brown speaks at a news conference after the G20 summit at the ExCel centre in east London April 2, 2009. World leaders agreed a US$1 trillion deal on Thursday to combat the deepest economic downturn since the Great Depression. -- PHOTO: REUTERS
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"--><DIV class=story_text>LONDON - GLOBAL leaders pledged an additional US$1 trillion (S$1.5 trillion) to restore credit, growth and jobs in the world economy on Thursday, exceeding expectations in their plan to deal with the financial crisis.
The G-20 also agreed to renounce protectionism and pledged US$250 billion in trade finance over the next two years.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><TABLE><TBODY><TR><TD>
VIDEO
</TD></TR><TR><TD>
WORLD stock prices, battered by the crisis for months, have recovered some lost ground in the last month and shot higher on Thursday on hopes for a strong agreement by the G20 leaders. The index of top European shares jumped 3.9 per cent after Japan's Nikkei gained 4.4 per cent.
'A good rally is coming through, particularly from Asian markets overnight on hopes for a decent stimulus package from the G20 to lift confidence, especially with regards to emerging economies and a boost to the International Monetary Fund,' said Henk Potts, strategist at Barclays Wealth.
</TD></TR></TBODY></TABLE>It's a key measure to help struggling developing countries, whom they promised to give a greater say in world economic affairs.
The G-20 outlined a raft of policies to rebuild trust in the financial system, including a crackdown on tax havens and hedge funds and new rules on linking executive pay to performance.
Addressing a key demand from France and Germany, Mr Brown said the leaders agreed 'there will be an end to tax havens that do not transfer information on request. The banking secrecy of the past must come to an end.'
The G-20 also ordered the IMF to sell billions of dollars of gold reserves to help the world's poor countries and new rules on pay and bonuses for corporate chiefs, Mr Brown told a press conference after a one-day summit in London.
Mr Brown said the International Monetary Fund and World Bank would undergo major reforms to reflect changes in the power structure of the world economy. 'A new world order,' he said.
The sweeping G-20 communique bridged a gap between the US and European countries led by France and Germany over how far to push changes on regulation to curb the market excesses that led to the current crisis.
Germany's finance minister welcomed the fact that no obligation was agreed for countries to adopt further stimulus packages.
The issue had created tension in the summit build-up, with Washington favouring such packages and Paris and Berlin preferring to let earlier measures take their course.
The final communique forecast the measures taken would raise world output by four per cent by the end of next year. -- REUTERS, AP, AFP
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G-20 Summit
</TR><!-- headline one : start --><TR>US$1 trillion plan unveiled <!--10 min-->
</TR><!-- headline one : end --><TR>* G20 agrees trillion-dollar deal to fight crisis
* Tax havens to be blacklisted * Financial rules tightened, more oversight of hedge funds * Measures to boost world output by 4 per cent by end 2010
</TR><!-- show image if available --><TR vAlign=bottom><TD width=330>

</TD><TD width=10>


Britain's Prime Minister Gordon Brown speaks at a news conference after the G20 summit at the ExCel centre in east London April 2, 2009. World leaders agreed a US$1 trillion deal on Thursday to combat the deepest economic downturn since the Great Depression. -- PHOTO: REUTERS
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"--><DIV class=story_text>LONDON - GLOBAL leaders pledged an additional US$1 trillion (S$1.5 trillion) to restore credit, growth and jobs in the world economy on Thursday, exceeding expectations in their plan to deal with the financial crisis.
The G-20 also agreed to renounce protectionism and pledged US$250 billion in trade finance over the next two years.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><TABLE><TBODY><TR><TD>
VIDEO
</TD></TR><TR><TD>
<TABLE align=left><TBODY><TR><TD>
</TD></TR></TBODY></TABLE>G20 protesters descend on London
(1:33)
</TD></TR><TR><TD>
(1:33)
<TABLE align=left><TBODY><TR><TD>
</TD></TR></TBODY></TABLE>G20 summit begins
(1:04)
</TD></TR></TBODY></TABLE><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>Market lifted
(1:04)
WORLD stock prices, battered by the crisis for months, have recovered some lost ground in the last month and shot higher on Thursday on hopes for a strong agreement by the G20 leaders. The index of top European shares jumped 3.9 per cent after Japan's Nikkei gained 4.4 per cent.
'A good rally is coming through, particularly from Asian markets overnight on hopes for a decent stimulus package from the G20 to lift confidence, especially with regards to emerging economies and a boost to the International Monetary Fund,' said Henk Potts, strategist at Barclays Wealth.
</TD></TR></TBODY></TABLE>It's a key measure to help struggling developing countries, whom they promised to give a greater say in world economic affairs.
The G-20 outlined a raft of policies to rebuild trust in the financial system, including a crackdown on tax havens and hedge funds and new rules on linking executive pay to performance.
Addressing a key demand from France and Germany, Mr Brown said the leaders agreed 'there will be an end to tax havens that do not transfer information on request. The banking secrecy of the past must come to an end.'
The G-20 also ordered the IMF to sell billions of dollars of gold reserves to help the world's poor countries and new rules on pay and bonuses for corporate chiefs, Mr Brown told a press conference after a one-day summit in London.
Mr Brown said the International Monetary Fund and World Bank would undergo major reforms to reflect changes in the power structure of the world economy. 'A new world order,' he said.
The sweeping G-20 communique bridged a gap between the US and European countries led by France and Germany over how far to push changes on regulation to curb the market excesses that led to the current crisis.
Germany's finance minister welcomed the fact that no obligation was agreed for countries to adopt further stimulus packages.
The issue had created tension in the summit build-up, with Washington favouring such packages and Paris and Berlin preferring to let earlier measures take their course.
The final communique forecast the measures taken would raise world output by four per cent by the end of next year. -- REUTERS, AP, AFP
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