G-20 to give $1 trillion to IMF, World Bank

LONDON – G-20 leaders hoping to end the global economic crisis pledged an additional $1.1 trillion in financing Thursday to the International Monetary Fund and other global institutions and declared a crackdown on tax havens and hedge funds.
In a communique capping a dramatic one-day gathering, the leaders announced the creation of a supervisory body to flag problems in the global financial system — but did not satisfy calls for new stimulus measures.
They did, however, bridge the gap between the United States and some European nations over how far to regulate the market and curb the excesses that sparked the global economic crisis.
READ FULL STORY HERE