G20 summit: tensions high following talks to find global recession deal - Telegraph

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In a joint statement issued at the end the meeting, which is being held ahead of the G20 global leaders summit on April 2, the G20 countries promised to take the "necessary" steps to restore economic growth. "We are committed to deliver the scale of sustained effort necessary to restore growth," they said.

But in a sign of growing tensions over the global economic crisis, China, Russia, Brazil and India demanded that the US and European countries release more information on their economies.

They said the US and Eurozone countries should work to ensure their economic policies were more balanced and better co-ordinated to help stimulate the global economy.

In a communique released ahead of the full G20 statement, the four emerging economies also demanded more voting influence for themselves within the International Monetary Fund (IMF).

UK Chancellor Alistair Darling told reporters after the meeting that the gathering in Sussex had achieved a "very clear sense of direction" ahead of the London Summit on April 2.

"We agreed a significant amount of progress," he said. "There was a great deal of consensus about the urgency of the problems we face and the steps we need to take."

The Chancellor said he was not prescribing the measures that individual countries should take. But he added: "There is this commitment, which is absolutely critical, that the 20 largest economies in the world stand ready to do whatever is necessary for as long as is necessary, and I think that is a major step forward."

G20 summit: tensions high following talks to find global recession deal - Telegraph

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