PM to attend G-20, focus on global economy

New Delhi: Asking industrialised nations to avoid protectionism in the trade of goods and services, Prime Minister Manmohan Singh on Tuesday said it was important and necessary for the G-20 Summit to take "credible decisions" to help reverse the current slowdown and instill a confidence in

the global economy.

In a statement before leaving for London to participate in the meeting of world leaders to discuss the economic meltdown, Singh also focussed on the need to ensure adequate flows of finances to the developing countries to

overcome the reversal of international capital flows.

Singh, who will have his maiden meeting with US President Barack Obama on Thursday, said the time has come for the international economic and financial architecture to reflect contemporary economic strengths.