G20 countries reiterate commitment to strengthen growth

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SME Times News Bureau | 16 Apr, 2016
The Group of 20 leading economies reiterated their commitments to using all policy tools, including monetary, fiscal and structural, to foster confidence and strengthen growth, G20 finance ministers and central bankers said in a communique on Friday.

"Downside risks and uncertainties to the global outlook persist against the backdrop of continued financial volatility, challenges faced by commodity exporters and low inflation," said the communique, reported Xinhua.

The G20 countries repeated its earlier pledges to using all policy tools -- monetary, fiscal and structural ones, individually and collectively to foster confidence and strengthen growth.

They also reiterated their commitment to refrain from using exchange rates for competitive advantage.

"We reaffirm our previous exchange-rate commitments, including that we will refrain from competitive devaluations and we will not target our exchange rates for competitive purposes," said the communique.