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Group of Twenty meeting in Istanbul highlights stimulate growth
08-02-2015
- ISTANBUL (Reuters)
Finance ministers and central bank governors of the Group of Twenty countries daunting task facing to coordinate their efforts to stimulate global growth during meetings held this week in light of the pace of growth varied and monetary policies of major economies.
And tops the agenda of talks to be held in Istanbul on Monday and Tuesday concern about the ability of the United States to support the global economy, while most of the world suffer from the slowing economy agenda.
Meetings are held at a critical time as the problems of Greece receiving a shadow over Europe again and confuse the price of oil cheap expectations Baltckm growth while threatening to rise in the dollar emerging market economies.
Ali Babacan said Turkey's Deputy Prime Minister in charge of economic affairs that Turkey will give priority during its presidency of the group to address the slowdown in global growth and strengthen the role of low-income countries.
But to achieve the first thing harder than suggested by the words.
He said US Treasury Secretary Jack if last week that the United States can not be "the only engine of growth," said a US official said the letter sent by Washington before the meetings that Europe was not doing enough.
He said Canadian Finance Minister Joe Oliver to stimulate global growth will be the focus of the meeting of the Group of Twenty and his top priority.
"The political crisis in Ukraine, Iraq and Syria .. high-risk and complexity of the recovery efforts .. Although America supports the global economy at the moment, but that this situation can not continue." Said European sources familiar with the work of the Group of Twenty agenda is likely Germany defends Europe's biggest economy on record as doing its best by increasing domestic demand and plans to raise public spending.
During the financial crisis between 2007 and 2009 succeeded Mjmuahalashran efforts while global stimulus package prepared but now the situation is more complex in light of fiscal policy, which is a variation causes of the global turmoil.
And head of the Federal Reserve (Fed) to raise interest rates this year, in contrast to the abrupt cuts from India to Australia, Canada and Denmark as well as China to cut the reserve requirement ratio for banks and the abolition of Switzerland ceiling price franc against the euro.
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