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Geithner says force of global recession receding

Geithner says force of global recession receding

U.S. Treasury Secretary Timothy Geithner is looking to reassure Gulf leaders that the U.S. wants to work with them to solve the global recession.
In a speech Tuesday in the Saudi commercial hub of Jiddah _ his first official stop in the Middle East _ Geithner also sought to ease concerns among America's traditional Gulf allies about their U.S. investments.
The comments are meant to reflect the region's growing financial clout.
Geithner says the global recession is receding, but that repair and recovery "is going to take considerably more time."
He also says the U.S. recognizes it has a special responsibility in protecting the value of the dollar given its role in the international financing system, and is committed to preserving the openness of its economy.


Updated : 2021-10-16 05:03 GMT+08:00