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Geithner sees risks remaining to economic recovery
Posted: 14 July 2009 0259 hrs

  Timothy Geithner
 
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LONDON : US Treasury Secretary Tim Geithner said Monday that significant risks remained to the world economy but major economies had found a strong consensus to fight the crisis.

"In my view there are still significant risks and challenges ahead.

"We have done a great deal domestically... but there is a lot of uncertainty," Geithner said after talks with British finance minister Alistair Darling and Prime Minister Gordon Brown in London.

Geithner said major economies largely agreed on the measures that needed to be taken to stimulate economic activity, adding: "I think we have remarkably strong consensus in place on core elements."

He is also scheduled to visit France, Saudi Arabia and the United Arab Emirates on the trip.

Following the talks, the British Treasury announced that London would host a meeting of finance ministers and central bankers of the Group of 20 nations in London on September 4-5.

The meeting will take place ahead of a meeting of G20 leaders in Pittsburgh, Pennsylvania, on September 24-25.

The G20 is made up of the Group of Eight industrialised nations -- Germany, Canada, the United States, France, Britain, Italy, Japan and Russia -- plus the European Union and the world's major developing economies.

The last full G20 summit was held in London in April.

- AFP /ls

 


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