The International Monetary Fund (IMF) pledged on Sunday to support the economic plan of Group of 20 (G20) reached in its recent summit in Pittsburgh.

"We welcome the outcomes of the G20 summit Pittsburgh and support its commitment to articulating policies for strong, sustained, and balanced growth in the global economy," the IMF's policy-setting International Monetary and Financial Committee (IMFC) said in a statement after a meeting in Istanbul on Sunday.

The committee, which represents the Washington-based organization's 186 member states, also pledged to maintain stimulus policy support.

"We commit to maintaining supportive fiscal, monetary and financial sector policies until a durable recovery is secured, and stand ready to act further as needed to revive credit, recover lost jobs and reverse setbacks in poverty reduction," the statement said.

"As the recovery takes hold, we are committed to work together in articulating and implementing credible and coordinated exit strategies," it added.

The committee also deemed that quota reform is crucial for increasing the legitimacy and effectiveness of the IMF, according to the statement.

Istanbul will host the annual meetings of the IMF and World Bank on October 6-7. Ahead of the meetings, the IMF said in its World Economic Outlook that the global recession is ending due to strong public policies and a resurgence in Asia, but a subdued recovery lies ahead.

The IMF projected the global economy to contract at 1.1 percent in 2009, but the growth in 2010 will reach 3.1 percent.

(Xinhua News Agency October 5, 2009)