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Summiteers OK big loans, no econ rescue stimulus

Tom Raum The Associated Press

Issue date: 4/3/09 Section: News
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 G20 leaders pose for  a group photo  at the G20 Summit in  the Excel centre in London, Thursday. They are from left, to right, back row Director General of the International Monetary Fund Dominique Strauss-Kahn, United Nations Secretary General Ban Ki-moon.Director General of the World Trade Organisation Pascal Lamy, Chairman of ASEAN, Prime Minister of Thailand Abhisit Vejjajiva, Italian Prime Minister Silvio Berlusconi, new partnership for Africa's Development (NEPAD) Meles Zenawi, Australia's Prime Minister Kevin Rudd, Japan's Prime Minister Taro Aso, President of the European Council Mirek Topolanek, Financial Stability representative Mario Draghi, and President of the World Bank Robert Zoellick. Middle row left to right. EU Commission President Jose Manuel Barroso, India's Prime Minister Manmohan Singh, Turkish Prime Minister Recep Tayyip Erdogan, U.S. President Barack Obama, Russian President Dmitry Medvedev, South African President Kgalema Motlanthe,Dutch Prime Minister Jan Pet
G20 leaders pose for a group photo at the G20 Summit in the Excel centre in London, Thursday. They are from left, to right, back row Director General of the International Monetary Fund Dominique Strauss-Kahn, United Nations Secretary General Ban Ki-moon.Director General of the World Trade Organisation Pascal Lamy, Chairman of ASEAN, Prime Minister of Thailand Abhisit Vejjajiva, Italian Prime Minister Silvio Berlusconi, new partnership for Africa's Development (NEPAD) Meles Zenawi, Australia's Prime Minister Kevin Rudd, Japan's Prime Minister Taro Aso, President of the European Council Mirek Topolanek, Financial Stability representative Mario Draghi, and President of the World Bank Robert Zoellick. Middle row left to right. EU Commission President Jose Manuel Barroso, India's Prime Minister Manmohan Singh, Turkish Prime Minister Recep Tayyip Erdogan, U.S. President Barack Obama, Russian President Dmitry Medvedev, South African President Kgalema Motlanthe,Dutch Prime Minister Jan Pet

LONDON (AP) - Anxiously assembled at the most perilous moment for the global economy since the Great Depression, the world's financial powers pledged more than $1 trillion Thursday for emergency loans to combat spreading chaos. But they rebuffed President Barack Obama's bid for new stimulus spending and made no guarantees of success.

"This was the day the world came together to fight back against global recession," declared British Prime Minister Gordon Brown, the summit host, as he led a choreographed show of unity designed to boost confidence in homes and boardrooms everywhere. "This is just the beginning," added Obama.
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