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US Treasury Secretary Jack Lew stressed at a press conference that the G20 had left the austerity debate behind and was fully focused on growth.
The World Economic Forum, which organises the Davos talkfest, warned last week that the growing gulf between the rich and the poor represents the biggest global risk in 2014.
Meeting in Washington, the officials warned that there were still risks to global economic growth, and that many countries faced “unacceptably high unemployment.”
They backed a “Saint Petersburg action plan” to boost growth and employment as host Russian President Vladimir Putin cautioned that the “risks are still very, very large” for the fragile recovery.
The meeting in Moscow in an exhibition centre outside the Kremlin walls aims to set up the G20 heads of state summit in Saint Petersburg in September, which will be the culmination of Russia’s presidency of the group.
Online initiative helps women entrepreneurs gain access to financing
By Michael O’Boyle and Glenn Somerville / Reuters MEXICO CITY: The world’s leading economies said on Sunday they were “alert to the risks of higher oil prices” and discussed at length the impact that sanctions on Iran will have on crude supplies and global growth. Finance ministers and central bankers from the Group of 20 said in …
By Michel Rocard PARIS: We are little more than a decade into the twenty-first century, but a terrible precedent has already been set: all of the major international negotiations and cooperative efforts initiated in this century thus far have ended in failure. With regard to the environment, the fight against global warming has come to a …