Washington - The world leaders meeting this weekend in Washington at an emergency finance summit amidst the worst crisis since the Great Depression have a loose affiliation with each other under the Group of 20, the so-called G20.
The group grew out of the financial crises of the 1990s - like Mexico's - and was founded in 1999 with the aim of including emerging market countries which had been excluded from the "core of global economic discussion and governance," the G20 wrote on its website.
Washington/Berlin - The leaders of the world's 20 biggest economies will hold an historic meeting Saturday in a bid to head off the threat of a protracted global recession and forge a new world financial order.
Called together less than two months ago by US President George W Bush, the emergency summit of the Group of 20 (G20) leaders amid the splendour of Washington's National Building Museum comes in the wake of the biggest crisis to engulf the world economy since the Great Depression.
Washington - European leaders have been calling for a new "Bretton Woods" agreement to rescue the world economy from the current crisis in the global finance system.
They hope that this Saturday's summit in Washington of 20 leading economies will lay the basis for a new international finance order, similar to the 1944 agreement in the New Hampshire resort town of Bretton Woods.
Wellington - Banks in Australasia are well placed to handle the current international financial crisis, Alan Bollard, governor of the Reserve Bank of New Zealand, said on Wednesday.
"While we are far from seeing the final impact of the financial and economic disruption, New Zealand's banks, and the Australian parents of the majors, are well-positioned to withstand the economic downturn," Bollard said while releasing the bank's November financial stability report.
Washington - President-elect Barack Obama will meet with none of the 20 world leaders descending on Washington this weekend for an emergency financial summit, the head of Obama's transition team said Tuesday.
Obama will remain in his hometown of Chicago for the weekend continuing preparations to enter the White House on January 20 and will host no foreign dignitaries, according to John Podesta, co- chairman of Obama's transition team.
Washington - The United States on Tuesday announced new measures to ease the mortgage market crisis that has threatened the wider US and global economy, offering a streamlined approach to help struggling homeowners refinance into affordable mortgages.
Mortgage holders in danger of foreclosure can take advantage of a government plan that will offer them lower interest rates, a longer term and even deferment of payments if needed.
Washington - The world leaders meeting this weekend in Washington at an emergency finance summit amidst the worst crisis since the Great Depression have a loose affiliation with each other under the Group of 20, the so-called G20.
Washington/Berlin - The leaders of the world's 20 biggest economies will hold an historic meeting Saturday in a bid to head off the threat of a protracted global recession and forge a new world financial order.
Washington - European leaders have been calling for a new "Bretton Woods" agreement to rescue the world economy from the current crisis in the global finance system.
Wellington - Banks in Australasia are well placed to handle the current international financial crisis, Alan Bollard, governor of the Reserve Bank of New Zealand, said on Wednesday.
Washington - President-elect Barack Obama will meet with none of the 20 world leaders descending on Washington this weekend for an emergency financial summit, the head of Obama's transition team said Tuesday.
Washington - The United States on Tuesday announced new measures to ease the mortgage market crisis that has threatened the wider US and global economy, offering a streamlined approach to help struggling homeowners refinance into affordable mortgages.
