Treasury Secretary Timothy Geithner said he will call on G20 member nations to maintain rigorous fiscal stimulus plans until the financial crisis subsides.

Speaking on Wednesday, he said the United States will draw up a framework for reforming its own financial regulation structure ahead of the meeting in London on April 2, adding all G20 countries should work tougher to strengthen domestic laws governing their various financial sectors.

The International Monetary Fund (IMF) has a larger role to play in the crisis, he said, and the agency's financing should be increased to support an emergency fund. Up to $500 billion could be raised by G20 nations and others to support such a program, he said. Furthermore, the IMF should begin publishing quarterly reports that assess each country's stimulus efforts, he said.

The Treasury Secretary said the G20 needs to be expanded to include additional member nations. Within the current membership, those countries with emerging markets should have more voting shares and play a larger role in financial institutions, he said.

By Megan Ainscow and edited by Sarah Sussman
©CEP News Ltd. 2009