G20 meeting

Summit in St Petersburg: economic understandings



Summit concluded yesterday 'Group of Twenty' in the Russian city of St. Petersburg, without the participants will be able to moisturize the atmosphere of the Russian North and the unification of votes on the Syrian crisis.

However, the Syrian crisis, did not prevent participants from achieving understandings on several major economic issues.

The group, which includes industrialized countries and major emerging countries in a final statement on its intention to join the emerging countries to the International Covenant on exchange of information on taxpayers, despite the recognition that the participation of these countries pose logistical challenges for the poorest countries.

The participants also agreed on the need to fight corruption and other things that do not doubt that it is in the interest of any country, whether developed or in the process of growth or away from growth. And warned that «a very weak recovery and risks remain, particularly those associated with slow growth in the economies of emerging countries, which reflects the impact of fluctuations in the flow of capital and the most difficult financial conditions and the volatility of raw material prices.

The summit succeeded in organizing a meeting with representatives from the world of business and trade unions, where trade unionists suggested the leaders of the countries 'Group of Twenty' to prepare a comprehensive plan provides for the creation of new work places, and the imposition of a global tax on financial transactions.


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Group of Twenty: the global economy is recovering but the crisis is not over yet
September 7, 2013 9:22


Group of Twenty: the global economy is recovering but the crisis is not over yet
The Group of Twenty said on Friday that the global economy is improving but it is too early to declare an end to the crisis while facing in emerging economies increased volatility.

Group leaders acknowledged the problems faced by some emerging countries, but said that the situation of those countries control back to it in the first place.

The Group of Twenty sought according to "Reuters" to find common ground on the unrest caused by the possibility of the United States to reduce its monetary stimulus soon, which will reduce the flow of dollars into the global economy.

Group of Twenty experiencing a rapid recovery now with the progress of the U.S. economy, while improving the performance of Europe's economy while developing economies face a setback due to the impending reduction of monetary stimulus.

And approved the final statement issued at the end of a two-day summit, which to a large extent with the statement issued by the group's finance ministers in July, which demanded that the changes are within the monetary policy "carefully considered."

The statement said, "applied Alastairatejaat the medium-term financial ... in a flexible manner to take into account the economic conditions in the short term in order to support growth and job creation." The discussions about the safety of the global economy and led by Russian President Vladimir Putin difficult and reflected the fears of slowing growth in developing countries.

And said Andre Bockarev the director of the International Department of the Ministry of Finance who participated in the drafting of the final statement in a statement to Reuters "the most difficult discussions and the longest was the assessment of the state of the global economy." The final statement said "in the face of increasing financial volatility developing markets agree to take the necessary measures to support growth and maintain stability and includes efforts to improve basic factors and increase resilience to external shocks and strengthen financial systems."



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