LDALL SUMMIT 3

On the process of recovery, the Summit pledged to
sustain policy response until a durable recovery is secured.

"We will act to ensure that when growth returns, jobs do
too. We will avoid any premature withdrawal of stimulus," the
Summit declaration said while at the same maintaining that the
nations would prepare "exit" strategies.

"When the time is right, (we will) withdraw our
extraordinary policy support in a cooperative and coordinated
way, maintaining our commitment to fiscal responsibility," the
declaration said, virtually echoing the views expressed by the
Prime Minister in his address to the plenary.

While countries in Europe were advocating withdrawal of
the stimulus package fearing inflationary conditions, those
like India have been against it saying the recovery was still
incomplete and the situation required greater care.

The leaders felt that a sense of normalcy should not lead
to complacency. "The process of recovery and repair remains
incomplete. In many countries, unemployment remains
unacceptably high. The conditions for a recovery of private
demand are not yet fully in place. We cannot rest until the
global economy is restored to full health and hard-working
families the world over find decent jobs," the statement said.

At his press conference, Singh said the options and
scope for India in regard to fresh doses of stimulus package
were limited because of factors like fiscal deficit and
monetary policies of the Reserve Bank but he did not appear to
completely rule that out.

"I do not not want to announce any package or stimulus
when I am on foreign soil," he said. (More) PTI