LONDON, Feb 18: A report “The Road to the London Summit” authored by Prime Minister Gordon Brown was released on Wednesday, which details his ideas on how to get the global economy back on track through a new global deal.
Setting out the ‘Global Deal’ to be discussed at G-20 summit on April 2 the report consists of a package of internationally coordinated measures to restore stability and set a course for a sustainable recovery, including action to:
Stimulate the global economy and help reduce the severity and length of the global recession for families and businesses in every country.
Kickstart lending so businesses and families can borrow again and businesses have the resources to invest for the future.
Renounce protectionism, with a transparent mechanism to monitor commitments and measures to increase access to trade finance.
Reform international regulation to close regulatory gaps.
Reform of the international financial institutions and the creation of an international early warning system, with a strengthened role for the IMF.
Coordinated international action to build tomorrow today: to put the world economy on an economically, environmentally and socially sustainable path to recovery and growth, ensuring that these benefits extend to the poorest.
Governments around the world have taken unprecedented action to deal with a crisis that is hitting ordinary people in every country.
The London summit bringing together world leaders from the G20 countries on April 2 is an opportunity to enhance international coordination in order to restore global economic growth.