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G-20 Meet
Feb 24, 2014

The G20 meet held in Sydney. The International Monetary Fund has called on the ministers and bankers to use the Sydney meeting to develop fresh strategies to help the global economy recover from the financial crisis that began in 2008. According to the new report of IMF, extremely low inflation in Europe and ongoing volatility in emerging economic powers such as Indonesia, Brazil and South Africa is a sign of worry.

However, recent signs of improvement in the global economy, in particular, growth strengthening in the United States, United Kingdom and Japan alongside continued solid growth in China and many emerging market economies, and the resumption of growth in the euro area is welcoming. Despite these recent improvements, the global economy remains far from achieving strong, sustainable, and balanced growth.

According to the communique, the participants are committed to implementing policies to grow their collective GDP by more than 2 percent above the current trajectory over the next five years.

Each country will deliver a comprehensive growth strategy as part of the Brisbane Leaders Summit in November as the first step.

The G20 also promised to take concrete actions to boost trade, competition, communication, employment opportunities and investment, particularly in infrastructure, and build resilience in the financial markets.

The communique reflects the shared goals of the finance ministers and central bank governors representing 75 percent of the global trade and 85 percent of the world economy.


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