PM, other G-20 leaders meet over working dinner hosted by Bush

Aiming for a concerted action to deal with the financial turmoil, Prime Minister Manmohan Singh and other G-20 leaders had a "good and productive" meeting over a working dinner hosted by US President George W Bush, who said the crisis would not be resolved "overnight".

"This problem did not develop overnight, and it will not be solved overnight. But with continued cooperation and determination, it will be solved," Bush said as the G-20 leaders met at the banquet hosted by him and First Lady Laura at the State Dining Room of the White House last night.

There is more work to do beyond the immediate crisis and the stakes are indeed high, the US President said, stressing that "developing nations need the assistance they have been promised - as well as additional foreign investment -- to continue their journey from poverty to promise".

"All over the world, people understand that their livelihoods depend upon a healthy and growing global economy. The surest path to that growth is to continue policies of free and open markets. Free market capitalism has been an engine of prosperity, progress, and social mobility in economies all over the globe," Bush said.

After the working dinner, White House Press Secretary Dana Perino said in a statement that the G-20 leaders had "a good, productive meeting."

"The leaders look forward to meeting tomorrow (at the G-20 summit) to launch an effort to take concrete actions to protect the global financial system," Perino said.

The G-20 leaders, whose countries represent 85 per cent of world economy, are meeting amid worsening global financial system which demands urgent measures.