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Leaders of the world’s 20 leading and emerging economies meeting in London this week are set to reiterate a pledge to avoid protectionism and complete stalled global trade talks but offer little to those calling for more economic stimulus, reports “Financial Times”.

A 24-point draft of the G20 meeting’s final communiqué, does not contain specific plans for a fiscal stimulus package, which had been resisted by European countries. It claims that the fiscal expansion already in process will increase global output by more than 2 percentage points and create more than 20m jobs.

Combined with increased resources for a reformed International Monetary Fund, the fiscal and banking support actions aim to enable the world economy to expand by the end of 2010. The draft left a blank space where a target for economic expansion could be inserted.

Stating that a “global crisis requires a global solution”, the G20 leaders pledge: “We are determined to restore growth now, resist protectionism, and reform our markets and institutions for the future . . . We are determined to ensure that this crisis is not repeated.”