London, 2 April-(ANA)-Leaders of the world's largest economies are close to an agreement to tackle the global financial crisis.
The International Monetary Fund, which helps struggling economies, is set to get up to $500bn (£340bn) more funding.
There will be measures to open up tax havens. Tighter regulation of banking bankers' pay are also being discussed.
It is understood that Gordon Brown wants to go further than some other leaders on these matters.
"Our Prime Minister is excessively ambitious in what he wants out of this summit," UK Business Secretary Lord Mandelson said. "A good thing too, because there's absolutely no point in people just coming here and rehearsing old arguments restating old commitments."
The leaders of the world's largest economies are expected to announce measures in the following key areas:
IMF boost: $500bn of additional money for the International Monetary Fund, the emergency lender for countries in financial trouble, in addition to the $250bn already pledged. Its resources have been depleted in recent months by having to help a number of Eastern European nations
Tax havens: Treasury minister Stephen Timms says the G20 have agreed to impose sanctions on tax havens that refuse to sign up to OECD rules to fight money laundering and tax evasion, although discussions are continuing over whether unco-operative havens will be named and shamed
Global trade: There will be about $250bn committed to boost international trade, UK Chancellor Alistair Darling confirmed
Fiscal stimulus: No new money will be pledged. However, leaders are expected to pledge to do whatever it takes to boost their own economies and emphasise that - globally - $2 trillion is already being spent to tackle the global recession
Protectionism: There will be a commitment to naming and shaming countries that breach free trade rules
Financial regulation: Tighter limits on the financial system are expected, including the activities of hedge funds, which are currently unregulated investment funds
Bankers: There may also be measures to clamp down on bankers' pay.
Senior EU officials, however, say there is concern that there will not be as much emphasis on bankers' pay and bonuses as they had hoped.
According to the EU officials, an agreement in general terms stating that there should be no reward for failure is expected, but fixed terms and conditions may be much harder to agree.(ANA)
