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British PM Sets out Plan for Global Coordinated Measures to Restore Economic Stability

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British Prime Minister Gordon Brown on Wednesday published a report titled The Road to the London Summit, setting out the plan for getting the global economy back on track through a new global deal.

The 'Global Deal' in the report consists of a package of internationally coordinated measures to restore stability and set a course for a sustainable recovery.

They include stimulating the global economy and helping reduce the severity and length of the global recession for families and businesses in every country; kicking start lending so businesses and families can borrow again and businesses have the resources to invest for the future; renouncing protectionism, with a transparent mechanism to monitor commitments and measures to increase access to trade finance.

The plan also calls for reform on international regulation to close regulatory gaps, as well as on the international financial institutions and the creation of an international early warning system, with a strengthened role for the International Monetary Fund.

The Prime Minister urged countries for coordinated international action to build tomorrow today, to put the world economy on an economically, environmentally and socially sustainable path to recovery and growth, ensuring that these benefits extend to the poorest.

Governments around the world have taken unprecedented action to deal with a crisis that is hitting ordinary people in every country. The London Summit slated for early April will bring together world leaders from the G20 countries. It is widely intended as an opportunity to enhance international coordination in order to restore global economic growth.

(Xinhua News Agency February 19, 2009)