By NNN-PTI,
New Delhi : Prime Minister Manmohan Singh returned home on Sunday night after attending the G-20 Summit in Washington hosted by US President George W Bush where he advocated a multi-faceted approach to tide over the global economic crisis.
Singh told a galaxy of world leaders who attended the one-day summit on the global economic crisis that there was a need for a credible system of multilateral surveillance that can signal the emergence of imbalances.
The Prime Minister asked the West to refrain from protectionism and pave way for multilateral regulatory supervision to avert the recurrence of crisis that has led to the world economy to the recession.
The 76-year-old economist-turned politician made a prescriptive address covering various areas needing urgent attention like reforms of the multilateral financial institutions to enhance concessional flows, a caution against protectionist policies and changes in the global financial architecture to avoid recurrence of the crisis.