G20 finance ministers aim for more growth
July 20, 2013 10:10AM
World finance chiefs pose for a photo after their meeting of the Group of 20 finance ministers in Moscow, Russia, Sarurday, July 20, 2013. The finance chiefs of the world's leading economies hope to force multinational companies to pay more taxes by closing loopholes that have allowed them to stash profits overseas. (AP Photo/Alexander Zemlianichenko)
MOSCOW (AP) — The Group of 20’s finance ministers in Moscow say their countries consider strengthening economic growth and creating jobs to be top priorities.
In a communique after a meeting that ended Saturday, they note that although there are signs of stronger economies in the United States and Japan, the eurozone continues to suffer from recession and that economic growth in emerging markets is comparatively slow.
The ministers also said they were “mindful of the risks and unintended negative side effects of extended periods of monetary easing.” They did not directly address the situation in the United States, where speculation that the Federal Reserve may soon wind down its monetary easing efforts has roiled markets.
The communique reiterated G-20 support for reforming the country quota system used by the International Monetary Fund.