G20 Finance Leaders Under Pressure to Boost Growth

 

Reuters, 15/04 16:01 CET

By David Lawder

WASHINGTON (Reuters) – Financial leaders from the Group of 20 major economies scrambled on Friday for a way to keep global growth from stalling amid concerns about a drop-off in international trade and the waning effectiveness of loose monetary policy.

The G20 gathering, the highlight of the International Monetary Fund and World Bank spring meetings in Washington, came amid growing pressure on richer nations to boost infrastructure spending, deregulate industries and spur employment.

Earlier this week the IMF cut its 2016 growth forecast for the world economy, the fourth such move in less than a year.

In a statement to the G20 on Thursday night, Indian Finance Minister Arun Jaitley said governments could not continue relying on central banks to take the lead in spurring growth and should consider boosting spending. 

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Source: Euronews