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World Briefing / Scotland

G-20 agrees on recovery effort

November 08, 2009|Times Wire Reports

Finance officials from rich and developing countries pledged to maintain emergency support for their economies until recovery is assured, but failed to reach a clear agreement to bear the cost of fighting climate change.

There was also a mixed reaction among the Group of 20 leading rich and emerging nations to a British-led push to consider a fund for bank bailouts, possibly financed by a tax on financial transactions, to ensure that other taxpayers don't bear the brunt of any future rescues.

The group said in a statement after talks in St. Andrews that economic recovery was "uneven and remains dependent on policy support."

On climate change, the G-20 delegates did not commit to a funding package to help poorer nations tackle the issue. .

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