Christine Lagarde, the chief of the International Monetary Fund, says the Sydney meeting of the G20 finance ministers and central bank governors had an ''excellent spirit'' of global co-operation.
There were predictions of a rift between developing economies and advanced nations over the winding back of stimulatory economic policies in the United States and Europe. But Ms Lagarde said the ''difficult debates'' were not forthcoming.
She did warn, however, of the likelihood of global financial instability in future ''because monetary policies will not change as they will have to change without a degree of volatility.''
Ms Lagarde described Australia's presidency of the G20 as ''action-oriented'' following the two-day meeting in which members agreed to boost global growth by 2 per cent above the IMF's current projected levels over the next five years.
Source: The Sydney Morning Herald
