TNBiz (TNBiz)
Macroeconomics  |  September 04, 2010 14:18:00

G20 members agreed that the global economic recovery will continue (September 4, 2010)


Mediafax

Gwangju (MEDIAFAX) - Members of the G20 meeting on Saturday in Gwangju, South Korea agreed that global economic recovery will continue. Informed the agency said.

The attendants refused to investors' concerns, identified as exaggerated. Admitted, however, that growth may slow.

Journalists said the South Korean Central Bank Governor Kim Jae-chun, a meeting of representatives of finance ministries and central banks co-chaired the G20. "We agreed that global recovery will continue, although speed may be compared to expectations from two or three months lower," said Kim.

Another participant in Saturday's meeting under the promise of anonymity revealed that stirred sharp debate on the issue of change in share of the countries on the Executive Board of the International Monetary Fund (IMF). First Deputy Managing Director John Lipsky IMF refused to whether disputes will be resolved soon, to answer.

While the G20 members pledged to reach an agreement before the November meeting in Seoul, but representatives of European countries still refuse to accept the agreement. Europe rejects U.S. proposal to reduce the representation of European countries in the IMF for emerging economies, the United States last month blocked because all plans to maintain dominance over Europe 24člennou by the IMF Board.

EU Finance Ministers should be about U.S. pressure to reduce the European representation in the leadership of the IMF to act at an informal meeting at the end of September.

Filip Sušanka, susanka@mediafax.cz

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