G20 leaders on the verge of global deal

LONDON - World leaders are close to agreeing a package of R2,3trillion in financing to support global trade flows, a source at the G20 summit in London said yesterday.

LONDON - World leaders are close to agreeing a package of R2,3trillion in financing to support global trade flows, a source at the G20 summit in London said yesterday.

But analysts said the countries must act quickly to help unblock trade, which has slowed since a financial crisis damaged consumer confidence and restricted access to credit.

"The leaders are close to agreement that they will ensure availability of at least R2,3trillion over the next two years to support trade finance through export credit and investment agencies and through multi-lateral development banks," a source said, speaking on condition of anonymity.

Analysts said any increase in trade would depend on how fast the money would be made available. - Reuters

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