BREAKING NEWS

World Bank: G20 has bought time, more force needed

By REUTERS

JUNE 17, 2012 21:13

LOS CABOS, Mexico, June 17 (Reuters) - The world's leading economies have relied on short-term measures to get them through the financial crisis and must now make deeper reforms to speed up growth and ease debt problems in many rich countries, the World Bank said.

The World Bank called for "enhanced G20 focus" on policies to reinvigorate growth, in a report for the Group of 20 leaders who meet for an annual summit on Monday and Tuesday against the backdrop of Europe's debt and political crisis.

The report, a copy of which was obtained by Reuters, also urged "forceful" actions to prevent the euro zone debt crisis from spilling over into the rest of the world.

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