“As noted by the (G-20) Leaders, coordinated action has done much to stabilize the world economy and the financial system. Leaders also recognize that much remains to be done to get the world economy working better. Global growth remains subdued, its underlying dynamics are changing, and market volatility and stability risks persist. Just as some advanced economies have begun to gather momentum, many emerging markets are slowing, and policy makers are grappling with challenges arising from domestic and external developments. Unemployment, in particular among young people, also remains high in many countries.
The action plan of G-20, recognizes the need for fiscal consolidation to reflect economic conditions, the need to push forward on financial oversight and regulation, and the importance of comprehensive structural reforms to support growth.
“It is also right that monetary policy remain supportive where appropriate. I am pleased that the G-20 recognizes the need to ensure that exit from unconventional monetary policy, when it comes, should be orderly and clearly communicated. Both advanced economies and emerging markets will have to address their domestic challenges in order for spillovers to be effectively managed. The IMF will continue to engage in these area".
Ms. Christine Lagarde
Group of 20 Leaders’ Summit in St. Petersburg, Russia
The action plan of G-20, recognizes the need for fiscal consolidation to reflect economic conditions, the need to push forward on financial oversight and regulation, and the importance of comprehensive structural reforms to support growth.
“It is also right that monetary policy remain supportive where appropriate. I am pleased that the G-20 recognizes the need to ensure that exit from unconventional monetary policy, when it comes, should be orderly and clearly communicated. Both advanced economies and emerging markets will have to address their domestic challenges in order for spillovers to be effectively managed. The IMF will continue to engage in these area".
Ms. Christine Lagarde
Group of 20 Leaders’ Summit in St. Petersburg, Russia
