February 19, 2011 9:20 PM

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Tough talks on at the G-20 FMs' meet to tackle the global economic imbalances

Finance Ministers at G20 conference in Paris are working hard to evolve a consensus on a road map to deal with global economic imbalances. Intense talks are on among ministers to arrive at an agreement on measuring global economic imbalances. Addressing the meet, Finance Minister Pranab Mukherjee stressed the need for arriving at a consensus on a set of guidelines to reduce excessive external imbalances. He said that a positive outcome is needed to give a signal that G-20 is serious in addressing structural problems and ensuring strong, sustainable and balance growth for the world economy and that it is not merely a crisis fighting forum. He said that as suggested by the Prime Minister, Dr. Manmohan Singh at the Seoul summit, a way must be found for channeling global savings to regions where huge investments are required for development and infrastructure. He said that as far as India's position in this regard is concerned, it does not contribute either to the build up or to the persistent of global imbalances. He said that India has also not contributed to be volatility that has been witnessed in several of the international market including commodity market. The G20 developed and developing countries, including India, China, Russia, Brazil, US, UK, Germany and France, had formed a working group to decide on such indicators.Meanwhile, India today stressed the need for arriving at a consensus on a set of guidelines to reduce excessive external imbalances. Addressing the G-20 meet in Paris today, the Finance Minister, Mr. Pranab Mukherjee said that a positive outcome is needed to give a signal that G-20 is serious in addressing structural problems and ensuring strong, sustainable and balance growth for the world economy and that it is not merely a crisis fighting forum. He said that as suggested by the Prime Minister, Dr. Manmohan Singh at the Seoul summit, a way must be found for channeling global savings to regions where huge investments are required for development and infrastructure. He said that as far as India's position in this regard is concerned, it does not contribute either to be built up or to the persistent of global imbalances. He said that India has also not contributed to be volatility that has been witnessed in several of the international market including commodity market.

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