G20 summit- the preparations start

Finance Ministers of major economies met at the Australian city of Cairns to discuss the preparation of the G20 summit to be held on November.   Leaders of the G20 are projecting to add another $2 trillion in the global economy to boost growth and propel job creation further.   However, the lagging Eurozone is quite preoccupying given the stagnating economic situation. U.S. Treasury Secretary Jack Lew subtly suggested from his part that the Eurozone might pull the overall economy back and fall into a genre of never-ending labyrinth.   Australian Treasurer Joe Hockey sent a strong appeal to countries worldwide to support the growing economy by using all monetary, fiscal and structural policies.   The leaders also discussed the fact of inviting Russian President Vladimir Putin to the summit given the existing hectic situation between Russia and Ukraine. They nevertheless left the door open for Russian President, for him to have his say during the summit.   Apparently, 1000 strategies have been developed to boost global growth to an uplifted level of 1.8% by 2018.   Little however was said about China despite being the second largest economy.   Source: Reuters
Priscilla Camryn By: Priscilla Camryn
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