Thursday, 5 September 2013

G-20 Economic Agenda

    - Measures to fight tax evasion by multinational companies .
    -  An initiative will be presented to leaders on refining regulation of the $630-trillion global market for            financial derivatives to prevent a possible markets blow-up.
    -  Steps to give the so-called 'shadow banking' sector until 2015 to comply with new global rules will              also be discussed.
    -  The emerging economies in the BRICS group - Brazil, Russia, India, China and South Africa - urged          the G20 to boost global demand and ensure that any changes in monetary policy are well flagged to          minimize any disruptive "spillovers" that may result.
    -  The appeal reflected the concerns among developing nations The BRICS also agreed to contribute          $100 billion to a joint currency reserve pool. China will commit $41 billion; Brazil, India and Russia            $18 billion each; and South Africa $5 billion.

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