US sees 'durable' recovery signs

Treasury secretary says confidence rising but warns against withdrawal of stimulus measures.

    Geithner warned governments not to withdraw stimulus measures too soon [AFP]

    Cash injection 'working'

    Stimulus measures have resulted in fresh capital entering the US financial system, he said, and credit markets had improved along with consumer and business confidence.

    Geithner said that during his tour, which has seen him visit Britain, Saudi Arabia and the United Arab Emirates, he had appealed to governments to continue efforts to revive the global economy.

    "Probably why I'm doing this is to make sure we keep working with governments around the world to continue to provide enough support to lift this global economy back to a sustained pattern of growth," he said.

    He said world leaders should have acted more quickly to support demand as the global financial crisis deepened, but added that subsequent policy had succeeded in heading off the worst possible effects of the crisis.

    SOURCE: Agencies


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