In his statement, he said:
We believe it is important for G-20 nations to commit to substantial and sustained actions for a period that matches the likely duration of the crisis. The IMF has called for countries to put in place fiscal stimulus of 2 percent of aggregate GDP each year for 2009-2010. This is a reasonable benchmark to guide each of our individual efforts. We think the G-20 should ask the IMF to report quarterly on countries' stimulus efforts scaled against the relative shortfall in growth rates.I am currently on a "pen and pad" press conference call with Geithner and will report back after the call.
UPDATE: Geithener's press conference remarks are embargoed until 2:00 ET, I'll be back then.
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