$1.1 trillion to save the world

Link to the article: Channel 4 News

Last Modified: 02 Apr 2009
By: Gary Gibbon

A $1.1tr (trillion) fix for the global economy - that's the deal finally agreed by the world's most powerful leaders.

It's new money and a new method of injecting it into the global system.

The International Monetary Fund will be given vastly more resources to help troubled economies get spending again, issuing what amounts to its own special currency.



The final communique also promises a clampdown on tax havens, controls on bankers pay and more money to support world trade.

Even France and Germany signed up to what they called a "very good, almost historic compromise". But will it actually work?

Economics correspondent Faisal Islam analyses the G20 deal.