Global Banking Directory 2.0
Press Release Distribution Service
Add Bank | Banking Forum Online
BankDEP Crypto Bank
BanksDaily on Twitter BanksDaily on LinkedIn BanksDaily on Instagram

Financial and Banking News

G20 summit unveils optimism for global recovery

The finance ministers of the G20 group of developed and emerging economies issued optimism about the global economic recovery, after it met on April 23 in Washington, D.C.

An announcement after the meeting stated that the global economy is emerging faster than expected from its worst recession since World War II. According to the G20 ministers, the recovery was primarily due to the large amounts of cash which Governments have injected into their economies.

The statement said: "The global recovery has progressed better than previously anticipated largely due to the G20’s unprecedented and concerted policy effort." However, it highlighted that the process was occurring "at different speeds within and across regions".

While concerns were raised for Greece, US Treasury Secretary, Timothy Geithner, said he welcomed the greater sense of urgency being demonstrated over the debt-ridden economy.

Greece is currently battling with debt of €300 billion (£273 billion) and is taking action to reduce its public deficit from 12% to 8% of GDP this year. Earlier this month, a deal was agreed under which finance ministers of the euro zone nations agreed to provide emergency loans totalling €30 billion (£26 billion) to Greece.

However, Mr Geithner called for Greece, the IMF and the EU to move quickly to produce a package of strong economic reforms and financial support. Greece's woes have made investors nervous and, as a result, the euro has plummeted against other major currencies.

The G20 is made up of the finance ministers and central bank governors of 19 countries which are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK and the US.

The European Union is represented by the rotating Council presidency and the European Central Bank.

Source: Financemarkets.co.uk
Date: 25.04.2010 [245]
Get your content published on BanksDAILY.com in just a few clicks.

Financial and Banking News
 Post-Pandemic Economic Recovery: Key Factors Driving Growth and Stability

The COVID-19 pandemic caused a global economic halt, resulting in disruption, job losses, and uncertainty. However, as vaccination efforts progress and countries adjust to the new normal, there is hope for an economic recovery.

 Wiki Finance Expo Sydney 2023 Is Coming Soon!

Regulation, Forex, Crypto, Web 3.0, Metaverse, AI, ESG Will Be in Focus. Taking place on November 16th, Wiki Finance Expo, Sydney 2023 is Aussie largest and most anticipated fintech event of the year. 30.10.2023 | Source: WikiExpo

 Blockchain Economy Dubai Summit 2023: Just Two Weeks Away and Buzzing with Anticipation

Dubai, UAE - The Blockchain Economy Dubai Summit is generating palpable excitement within the blockchain and crypto communities, with only two weeks remaining until the event. Scheduled for October 4-5, 2023, at the Le Meridien Dubai Hotel & Conference Center, this prestigious event gathers over 3,000 blockchain entrepreneurs, crypto enthusiasts, and industry leaders from 85 countries. 20.09.2023 | Source: Teklip

 📰 News Archive

2007-2024 © BanksDAILY.com | All Banks in One Place | Privacy Policy