Washington, DC — This summit of G-20 leaders and the G-20 meeting of finance ministers last weekend have begun to lay a productive foundation of discussion, input, and agreement. What matters now are the follow up actions. People are looking to leaders for a global, coordinated and fast response.
If September and October were about coordinated and cooperative monetary policies, then November and December will be increasingly about starting fiscal stimulus. China's recent $580 billion stimulus package was well timed and shows leadership. Further decisive actions will be needed. Such actions must take into account the interests of the poor and most vulnerable in developing countries.
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