Steps Taken By USA Program to buy Treasury securities worth $300 billion. To push down mortgage rates Fed plans to buy $1.25 trillion worth of securities issued by mortgage finance companies Fannie Mae and Freddie Mac by the end of the year. $787-billion economic stimulus package as well as a series of massive lending programmes to help revive the banking sector.

The target range for bank lending rate is zero to 0.25 percent. The central bank held interest rates steady at record lows, with a closely watched bank lending rate near zero.

Steps Taken By Japan The growth comes after 4 consecutive quarters of contraction Massive government stimulus ($260 billion) helped to boost the economy. Cash handouts, subsidies to buy energy efficient cars etc.

Japan’s recovery hinges largely on its overseas markets, which are showing signs of stabilizing Overall exports up 6.3% during the quarter due to increase in the demand from China. Emergency Guarantee Programme to prevent bankruptcy in rural areas. The shift in the power from LJP to DJP will be a relief; but it might just create instability during crucial times of economic recovery.

The recovery may not be sustained once the $ 2 trillion in worldwide stimulus that propped up sales for exporters runs out. 40 % of the factories still sit idle forcing them to cut cost and so slay off employment. The growth we’re seeing is based on government spending and a rebound from the very low level in the previous quarter.

Steps taken by Europe Stronger exports and consumer spending, as well as government stimulus packages, contributed to the growth. France and Germany were less hit comparatively because financial sectors account for smaller proportion of their economy. Growth is boasted by the fact that imports fell shortly. The situation is still fragile with investment banks and stock prices

Steps taken by France and Germany FRANCE GERMANY Household consumption increased by 0.4%. Government incentive schemes for trading in old cars, together with falling prices, were helping consumers. Foreign trade contributed 0.9% to the GDP figure. It went into recession because exports collapsed. Exports have grown at the rate of 7% due to growth in the demand from China. Imports declined sharply than exports. Increase in household and government expenditure.

Steps taken by Australia Govt. has given a stimulus package of $26.5 billion for infrastructure projects and cash supports for lower income families. Providing an impetus to private investors for a public private partnership (PPP). Australia's central bank has cut interest rates from 7% to 3.25% and also reduced petrol prices. Plan aimed to support 90,000 jobs while boosting economic growth

The stimulus package boosted public spending to a mammoth $19.3 billion. Retails sales went up.

Brazil:  Abandons its tax on foreign investment.  Plans to sell $50bn in dollar swap futures contracts to defend currency. Russia:  950bn Rouble long term funding to Banks  1.3trillion Rouble to State-run Vnesheconombank to service Russian Banks’ foreign loans China  Abandons its tax on foreign investment  Plans to sell $50bn in dollar swap futures contracts to defend currency