July 14, 2009 - U.S. treasury secretary Timothy Geithner says aggressive efforts to counter a global financial crisis are starting to work. In a press conference in Saudi Arabia, Geithner said the global economy faced severe challenges but sounded a reassuring note about future prospects.
"The force of the global recession is receding," Geithner said. "For the first time in several quarters, the IMF (International Monetary Fund) and a range of private analysts are starting to revise up their forecasts for growth in the second half of this year and next."
Geithner, who arrived in Saudi Arabia overnight from London, is aiming to reassure Gulf Arab states that the United States wants their investments and that their U.S. dollar assets are safe.
Friday, July 17, 2009
"Global Recession is Easing" (Geithner)
