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PM returns home after G-20 summit

Source: PTI
September 27, 2009 16:52 IST
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Prime Minister Manmohan Singh arrived in New Delhi after attending the G-20 summit in Pittsburg in the US, during which leaders of the world's richest and most influential countries resolved to continue the stimulus for the recession-hit global economy.

The summit also agreed to improve the voting rights of emerging economies like India in multilateral financial institutions and to take new steps against illicit outflows.

The prime minister, who was in Pittsburg for two days as part of his four-day stay abroad, addressed the G-20 Summit hosted by US President Barack Obama.

In his speech, he warned against "premature" withdrawal of the stimulus package for revival of the global economy hit by the worst crisis since the Great Depression.

India scored a major victory at the summit when its demand for increasing the voting rights of the developing countries in international financial institutions like IMF and World Bank was adopted, reflecting the importance of emerging economies in the crisis scenario.

The meet also accepted India's position against any hasty and immediate withdrawal of the global stimulus package adopted at the London Summit in April.

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