Sunday, June 27, 2010

G20 ( 8+ 12) , agrees to deficit reduction time line

Leaders of the Group of 20 meeting in Toronto, Canada have agreed that the world's most advanced industrialized countries should reduce their budget deficits by half within three years, with further steps to cut debt relative to economic output by 2016. The G20, which includes major industrialized powers in the Group of Eight plus developing nations with significant economies such as China and India, agreed to a specific time line for deficit reduction, while giving governments’ flexibility to adjust the pace of changes based on their own situations. Read more...

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