Global economy back on track: Obama

US President Barack Obama said today that the global economy is “back on the path to recovery”, although he and his G20 summit partners must work further to resolve differences over trade and currency issues.

Mr Obama said he needed “extra time” to reach agreement with long-time ally South Korea on a new free-trade agreement. He said he “wasn’t interested in making an announcement” just to send a signal of success and said he believed any such pact could – and must – be a “win-win” deal for the US.