The following are highlights of comments from finance officials made at the G20 meeting held in Washington DC on April 18-19.
G20 COMMUNIQUE ON FISCAL POLICY: “Maintaining fiscal sustainability in advanced economies remains essential. Advanced economies will develop medium-term fiscal strategies by the time of the St Petersburg Summit in line with the commitments made by our Leaders in Los Cabos. We will present and review our strategies at our next meeting.”
G20 COMMUNIQUE ON ECONOMIC RECOVERY: “The global economy has avoided some major tail risks and financial market conditions continue to improve. However, global growth has continued to be too weak and unemployment remains too high in many countries. The recovery remains uneven and is progressing at different speeds with emerging markets experiencing relatively strong growth, the United States demonstrating a gradual strengthening of private demand, and the recovery in the euro area as a whole yet to materialize. Policy uncertainty, private deleveraging, fiscal drag, impaired credit intermediation, and a still incomplete rebalancing of global demand continue to weigh on global growth prospects. “
GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE ON GROWTH RAGES: “Nobody should expect that Europe will deliver high growth rates the coming years.”
BUNDESBANK PRESIDENT JENS WEIDMANN ON JAPAN’S MONETARY EASING: “I think it was important, that from many sides it was underlined, that the G20-Communique from Moscow said, monetary policy should not aim at manipulating exchange-rates and cause competitive devaluations.”
The following are highlights of comments from finance officials made at the G20 meeting
held in Washington DC on April 18-19.
G20 COMMUNIQUE ON FISCAL POLICY:
“Maintaining fiscal sustainability in advanced economies remains essential.
Advanced economies will develop medium-term fiscal strategies by the time of the
St Petersburg Summit in line with the commitments made by our Leaders in Los
Cabos. We will present and review our strategies at our next meeting.”
G20 COMMUNIQUE ON ECONOMIC RECOVERY:
“The global economy has avoided some major tail risks and financial market
conditions continue to improve. However, global growth has continued to be too
weak and unemployment remains too high in many countries. The recovery remains
uneven and is progressing at different speeds with emerging markets experiencing
relatively strong growth, the United States demonstrating a gradual
strengthening of private demand, and the recovery in the euro area as a whole
yet to materialize. Policy uncertainty, private deleveraging, fiscal drag,
impaired credit intermediation, and a still incomplete rebalancing of global
demand continue to weigh on global growth prospects. “
GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE ON GROWTH RAGES:
“Nobody should expect that Europe will deliver high growth rates the coming
years.”
BUNDESBANK PRESIDENT JENS WEIDMANN ON JAPAN’S MONETARY EASING:
“I think it was important, that from many sides it was underlined, that the
G20-Communique from Moscow said, monetary policy should not aim at manipulating
exchange-rates and cause competitive devaluations.”
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