Annual meeting of the World Bank and IMF

Banking crisis that began in the United States in mid-2007 has spread quickly to encourage the world into recession in the IMF said in the beginning this weekend to see the global economic contraction of 1.3 percent this year. A number of high officials the International Monetary Fund (IMF) and World Bank annual meeting conduct Saturday and Sunday in the shadow global slump worst since 1930-but with a possible signal is the first recovery.

IMF estimates that mark a dramatic decrease in the level of previous estimates and set the basis for meeting the committee meeting referrer 185 member institutions saudarinya IMF and World Bank.

"Data shows that the latest step in the decline in our economy slowed and a number of signal stabilization are growing," said the G7 statement.

G7 comprises the United Kingdom, Canada, France, Germany, Italy, Japan and the United States, said they "committed to act together to improve employment and growth and prevent a crisis with a scale like this happen again."

U.S. Finance Minister Timothy Geithner, G7 host, said that "without the low akan challenges still facing us, there are signs that steps memburuknya economic activity and the rate of trade has been reduced."

He also reminded that the worst global slump since 1930-will be an end soon.

Group meeting next 20 or G20, which consists of the G7 and developing countries such as Brazil, China, India and Russia, ended without any statement.

Financial crisis triggered by the "boom" of the credit based on "subprime" U.S. credit market or housing with high risk of kolaps in mid-2007 because of weak loan recipient can not maintain the payments when the economy starts slowed.

A number of banks involved in credit that in large and in an attempt to limit their losses, the loans, which caused the economy slowed in the global credit pengucuran that has brought the world economy into recession .

Antara