19 Jul 2013
Boosting jobs and growth top priority for G20
FXstreet.com (Barcelona) - According to the G20 draft communiqué obtained by Reuters, officials gathered in Moscow for the two-day summit declared their readiness to boost growth and employment through implementing a series of structural reforms over the medium term.
They stressed the need for fiscal sustainability, which is expected to be attained through realizing flexible country-specific fiscal strategies.
“We are determined to continue progress with rebalancing of global demand, which requires internal rebalancing through structural reforms and exchange rate flexibility,” G20 finance ministers and central bankers said. “We reiterate our commitments to move from more rapidly toward more market-orientated exchange rate systems and to refrain from competitive devaluation.”
G20 officials also reminded that central banks should fulfill their mandates of maintaining price stability and propping up economic recovery. They emphasized that aggressive monetary easing for extended periods of time might have unintended negative consequences.
They stressed the need for fiscal sustainability, which is expected to be attained through realizing flexible country-specific fiscal strategies.
“We are determined to continue progress with rebalancing of global demand, which requires internal rebalancing through structural reforms and exchange rate flexibility,” G20 finance ministers and central bankers said. “We reiterate our commitments to move from more rapidly toward more market-orientated exchange rate systems and to refrain from competitive devaluation.”
G20 officials also reminded that central banks should fulfill their mandates of maintaining price stability and propping up economic recovery. They emphasized that aggressive monetary easing for extended periods of time might have unintended negative consequences.