As expected, the G20 won’t produce any big coordinated fiscal boost. Or at least not the kind that both British Prime Minister Gordon Brown and U.S. President Barack Obama had hoped.
But sources involved in the negotiations say it could provide as much as $1 trillion to the global economy through a combination of measures such as increased funding for the International Monetary Fund and a trade credit package.
British Minister Mark Malloch-Brown, the Prime Minister’s official envoy to the negotiations, says the aim is to bolster the economies of poorer countries. It’s providing “stimulus support for those parts of the globe that can’t do it on their own.”