Finance ministers from the G20 (Group of 20 major economies) say that they are prepared to take bold action to tackle the global financial crisis. The finance ministers have been meeting in southern England to prepare for a G20 leaders' summit on the crisis in April.
Britain's Finance Minister Alistair Darling said the G20 would take whatever action was necessary next month. Darling said G20 members agreed to strengthen the regulatory role of international lending institutions like the International Monetary Fund and World Bank.
He also singled out ratings agencies for greater oversight. These agencies have been blamed for encouraging false confidence in risky assets.
MORE RELATED NEWS
TOP STORIES
POLL
Do you think that Anna Hazare's Jan Lokpal bill will be able to contain rampant corruption in India?
