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'This is a time not just for individual, national measures to deal with the global financial crisis. 'Now this withdrawal of capacity threatens to make the recession longer, deeper and more widespread.' Mr Brown challenged leaders attending the annual gathering to play a part in rebuilding the global financial system at the G20 summit in London in April.
He said the meeting, due to be attended by Mr Obama, would tackle stabilisation of the banks, sustaining cross-border trade and the resumption of lending to households and businesses.
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'Not to make a decision, the policy of doing nothing, will allow this crisis to start a retreat from globalisation with huge implications for prosperity in every part of the world in the years to come,' he said.
Sitting alongside United Nations secretary general Ban Ki-moon this morning, the Premier said: 'I want 2009 to be remembered as the year when the world came together to reach urgent solutions and build for the future.' Last night, a close ally of Mr Brown admitted the Premier bears some responsibility for the economic crisis.