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G20 finance chiefs in Istanbul need a plan to boost growth

2015-02-09 14 Dailymotion

Finance ministers and central bankers from the world’s leading economies are in Istanbul for the G20 meeting with a clear aim in mind, to boost economic growth.<br /><br /> The difficulties are exacerbated by the stance of the new Greek government, cheaper oil hitting inflation and growth forecasts and a strong dollar undermining emerging economies.<br /><br /> Angel Gurria the Secretary General of the OECD addressed the meeting: “The pace of reform has slowed down in a majority of the advanced economies in the past two years is not very encouraging.There is this danger that we can move into long-term low growth or pretty flat growth. The imperious need, the urgent need, is to focus on the implementation of the G20 national growth strategies.”<br /><br /> Growth figures for 2015 are at best modest, relying in the main on the state of the US economy.<br /><br /> US Treasury Secretary Jack Lew said that the United States could not be “the sole engine of growth.”<br /><br /> Washington believes that Europe is not doing enough and wants t

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