Finance ministers and central bank governors from the G20, which accounts for 85 per cent of the world economy, also expressed 'deep regret' that reforms to the
After their meeting in
"We will develop ambitious but realistic policies with the aim to lift our collective GDP by more than two per cent above the trajectory implied by current policies over the coming five years," they said in reference to two percentage points.
"This is over
The IMF has said the strategy could add half a percentage point to global growth annually over four years starting next year.
The fund currently projects growth of 3.7 per cent this year and 3.9 per cent in 2015, with each G20 country to hammer out the finer points before the leaders' summit in
"We believe that if the reforms that have been identified are adhered to, delivered by the various authorities, then that is a goal that can be achieved or possibly exceeded," said IMF chief
Ministers said the figure could be reached by increasing investment and employment and enhancing trade, adding that there was 'no room for complacency' and that addressing the challenges 'requires ambition'.
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