Global Growth Under Scrutiny at
The decision by the U.S. Federal Reserve to scale back a policy known as "quantitative easing" - the printing of money to stimulate the economy - will be a theme at the two-day
It brings together finance ministers and central-bank governors from the G20 group of nations, although ministers from
The winding down of the stimulus program in
There is much debate about whether recent volatility in emerging markets was the result of the Federal Reserve's decision.
The head of the
"Mind the shop at home. In other words, emerging market economies, you need to look at your fiscal policy, you need to look at your monetary policy, you need to have the house in order to resist the volatility that can be induced by the tapering of the US Fed in part at the moment. But we're also saying to the US authorities, particularly the Fed be mindful of what's happening elsewhere when you do what you have announced," said Lagarde.
The host of the G20 meeting is keen to get an agreement on setting a global growth target, but that could be an area of disagreement. German officials are reportedly uneasy about setting binding goals for growth, insisting it would be an old-fashioned way to manage the global economy.
However, the Australian Treasurer,
"The global economy cannot afford complacency. We have not got time for reform fatigue. We've seen some signs that the global economy is recovering. Growth in advanced economies, particularly in
The G20 accounts for 85 percent of global production, and two thirds of the world's population. Its aims are to conquer economic uncertainty, foster growth and create jobs.
The next G20 heads of government summit will be held in the Australian city of
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