Global Biz

Obama urges G20 leaders to strengthen recovery

(Xinhua)
Updated: 2010-06-18 20:50

WASHINGTON - The top priority of the June 26-27 G20 summit in the Canadian city of Toronto "must be to safeguard and strengthen the recovery," US President Barack Obama said in a letter to G20 leaders.

"We worked exceptionally hard to restore growth; we cannot falter or lose strength now," he wrote in the letter, which was made public Friday.

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"This means that we should reaffirm our unity of purpose to provide the policy support necessary to keep economic growth strong," he said.

Obama said in Toronto, the G20 leaders "meet at a time of renewed challenge to the global economy."

He said that "it is essential that we have a self-sustaining recovery that creates the good jobs that our people need."

He also said that G20 leaders should be prepared to respond again as quickly and as forcefully as needed to avert a slowdown in economic activity if confidence in the strength of the world recoveries diminishes.

Obama said that it is important that the G20 demonstrates its continued determination to work collectively to address the renewed challenges facing the global economy.

"We need to commit to restore sustainable public finances in the medium term. And we should complete the work of financial repair and reform," he said.