Bloomberg: G20 vows to tackle renewed global risks

23 September 2011

Group of 20 finance chiefs pledged to address rising risks to the global economy and pushed Europe to contain its sovereign debt crisis, after concern that the world is on the brink of another recession sent stocks tumbling.

Policy-makers are “committed to a strong and coordinated international response to address the renewed challenges facing the global economy”, G20 finance ministers and central bank governors said in a statement late yesterday in Washington. Many urged Europe to implement a July promise to expand the powers of a rescue fund, Japanese Finance Minister Jun Azumi said.

The previously unplanned communiqué suggests authorities are alert to worries among investors, while they stopped short of outlining fresh policies to buoy growth.

Full article

© Bloomberg