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G20 Meeting

The leaders of the richest countries in the world have agreed on a number of ideas at a big meeting in London to try to solve the world’s economic problems.

Those countries have agreed to spend almost $1 trillion on a series of plans to make things better.

The world leaders of the 20 richest countries in the world, called the G20, are in London for the meeting.


Most of the money will go to a special international bank that lends money to countries when they really need it.


The sum of money they're talking about, $1 trillion, is so big that it's pretty hard to understand.


It's the same as one million times one million (1,000,000 x 1,000,000), or one thousand times one billion (1,000 x 1,000,000,000).


Another big chunk of the cash – $250 billion – has been put aside to help companies and countries around the world buy and sell things to each other.


As well as the agreement to [KWLINK 873]spend the money, the world leaders have agreed on a number of other ideas to improve things:

  • New rules on what banks can and can't do that will be the same all around the world.
  • Controls on the amount of money people working in banks are allowed to earn.
  • Tougher rules on the way some banks make money.
  • The world's poorest countries will get extra financial help.

  • While there is no quick fix for the world’s economy, the countries represented at the meeting do seem committed to doing what they can to help make things better, together.

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