Leaders of the G20 nations are meeting this evening at St Petersburg in Russia. They will be focusing on a host of economic issues including currency volatility in emerging market economies, sustainable and balanced growth, employment opportunities, tax evasion, trade and reforms in multilateral institutions. Though not on agenda, the emerging situation in Syria is likely to overshadow the economic issues in the two-day summit. India will co-chair the Working Group on the “Framework for Strong, Sustainable and Balanced Growth”.
Global markets have been volatile on concerns about a possible US military intervention. Investors are also nervous about the US winding down its stimulus measures. In this back drop the leaders of Brazil, Russia, India, China and South Africa, which collectively form the BRICS nations, are meeting informally before G-20 Summit begins.