China: G20 must strengthen their coordination

2016-07-23 at 09:18

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Chinese Finance Minister Lou Jiwei said Saturday that fiscal and monetary policies have become less effective in stimulating economic activity and thus on the world's major economies enhance coordination to promote lasting growth.

If I was speaking at the start of a meeting of Finance Ministers and Central Bank Governors of the G20 countries in Chengdu city in Southwest China, where they face the challenges of economic growth Britain's decision to withdraw from the EU exacerbated by structural reforms and more profound.

He said if the Forum is still encouraging a strong and durable economic growth and balanced constitutes a central issue for the g-20. "

Various States have taken steps to support economic growth in recent years but if the effectiveness of fiscal and monetary policies "reduced side effects began to emerge.

"The G20 countries should increase contacts and coordination on policy and consensus formation and guide market expectations and make a more outward-looking and transparent monetary policy and increase the efficiency of fiscal policy."

Lu stressed during a bilateral meeting with Japanese Finance Minister and Treasury need G20 members abstained from competitive currency cuts