IMF deal and international unity at the centre of G20 summit

In order to deal with the global economic crisis the G20 summit has been seen as a critical point whereby the world’s biggest economic powers much show unity in the face of adversity in order to tackle the crisis effectively.

The finance ministers and central bankers from across the G20 will meet in England tomorrow which will be the grounding of the leaders summit next month with the focus on how to guide the global economy towards recovery.

Thus far the only real success story has been the deal that has been secured with the International Monetary Fund to increase the resources available in order to help countries regulate markets and restore confidence and security to the banking system.

Both the UK and the US aim to get the rest of the group to commit to the stimulus package model in order to drive forward their economies through a combination of interest rates cuts of cash injections.

The financial system and regulation are also up for discussion in a bid to understand the reasons and points of failure that led to the current crisis which has claimed millions of jobs and crippled the biggest banks.

Many nations has called for the focus of the G20 to be to develop an international framework that controls hedge funds and the global market.