Latest Business News: G20 Soft Pedals on Debt Consolidation in Favor of Growth: Russia

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Latest Business News: G20 Soft Pedals on Debt Consolidation in Favor of Growth: Russia

Latest Business News: G20 Soft Pedals on Debt Consolidation in Favor of Growth: Russia
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Latest Business News: G20 Soft Pedals on Debt Consolidation in Favor of Growth: Russia

by Wochit 0:58 mins

Russia's finance minister said G20 policymakers have soft-pedaled on goals to cut government debt in favor of a focus on growth and how to exit central bank stimulus with a minimum of turmoil. The United States and Japan escaped specific mention in a final communique issued by the Group of 20 economies that called for credible medium-term fiscal strategies in advanced economies. The statement, issued after a two-day meeting of G20 finance ministers and central bankers, said the G20 was determined to "accelerate", instead of "continue", progress towards rebalancing global demand. Wall Street is experiencing its best month since January and looks poised to extend the rally with a deluge of earnings next week, though significant gains may be harder to come by with major indexes at record highs.

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