G20 Finance Ministers Meeting: Summit on boosting global economy enters second day
US Federal Reserve Chairman Ben Bernanke stressed that all members &# 171; Big twenty&# 187; must adhere to a consistent policy
Vladimir Putin received the finance ministers and central bank governors of the G20 countries at the Kremlin. The meeting was held within the framework of the Russian presidency of the “twenty”.
The main topics of the meeting in Moscow, among other things, were the actions of states to stimulate the growth of the world economy.
“It is obvious that the situation in the global economy requires us to take responsible, consolidated actions. The time of local, isolated crises is over, the Kremlin website quotes Putin. – Financial turmoil in several of the world’s leading economies is affecting the global economy. Not a single country is capable of withstanding modern challenges alone ”.
The main goal of the G20 and the Russian presidency that year, according to the President of the Russian Federation, is to ensure long-term growth and create jobs. Putin also proposed to hold a meeting with the G20 labor ministers, which will be the “innovation of the Russian presidency”. Prior to that, all meetings were held only between finance ministers and heads of national banks.
European Central Bank (ECB) President Mario Draghi believes that the measures taken by politicians and the G20 have already improved confidence in the international market, although so far the changes have not reached the real sector. “The G20 is capable of creating conditions for long-term economic growth,” Draghi said at the meeting.
The head of the US Federal Reserve Ben Bernanke said in his short speech that the US economy is recovering, but still far from recovery. Including, unemployment in the country cannot fall below 8%.
“The United States is using domestic policy tools to achieve domestic goals,” Ben Bernanke quoted Forex News. With the increasing integration of the global financial system, it is very important that all G20 members adhere to a consistent policy, says Bernanke..
The meeting ended on an optimistic note with a speech by World Bank President Jim Yong Kim. He believes that Russia is now among the world’s donors, and that the worst part of the crisis is over, although growth needs to be consolidated. “With your lips, as they say in the Russian people, yes, drink honey,” Putin reacted to this.
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