G-20 Vows to Spur Lending

The world's top financial officials promised a three-tiered approach to battling the global economic slowdown today, the Wall Street Journal reports. At the G-20 summit in England, finance ministers vowed to inject money into the IMF and other institutions to lend to struggling countries, while tackling banks' toxic assets and regulating hedge funds.

"We have a very broad basis of consensus globally on the need to act aggressively to restore growth to the global economy and a commitment to move together to address the evolving crisis," said Treasury chief Tim Geithner afterward. (More G20 stories.)