ID :
208691
Wed, 09/21/2011 - 19:25
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Shortlink :
https://oananews.org//node/208691
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G-20 to discuss Greek debt crisis, steps to stabilize market
WASHINGTON, Sept. 21 Kyodo -
Financial chiefs from the Group of 20 advanced and emerging economies will discuss measures to address the Greek sovereign debt crisis and stabilize global financial markets when they gather Thursday in Washington.
During the working dinner, the G-20 finance ministers and central bank governors are expected to focus on ways to avoid spillover effects from the Greek debt crisis impacting bigger eurozone economies such as Italy and Spain.
Japanese Finance Minister Jun Azumi and Bank of Japan Governor Masaaki Shirakawa will join the meeting, which is to be held on the fringes of annual meetings of the International Monetary Fund and the World Bank.
Azumi told reporters in Tokyo on Tuesday he plans to explain again to other participants that the recent appreciation of the yen against the U.S. dollar and other major currencies is slowing the Japanese recovery after the March disaster.
But Tokyo's position is unlikely to draw any reaction from fellow G-20 members as it is not a central issue at a time of major financial crisis and some countries apparently prefer to keep their currencies weak against the yen to spur their economies through exports.
At the G-20 meeting, U.S. Treasury Secretary Timothy Geithner will discuss the steps necessary for the world economy to regain momentum, including strengthening growth and employment in the United States as well as forceful action by Europe to generate confidence and quell instability, the Treasury Department said Tuesday in a statement.
The G-20 is also expected to update its discussions on ways to correct global economic imbalances and the United States will likely prod China again to move faster toward a market-oriented currency regime.
Geithner will discuss ''the need for China and other emerging economies to continue to strengthen domestic demand and allow their exchange rates to adjust to market forces,'' the department said.
The G-20 is unlikely to issue a communique on the working dinner talks.
On Friday, the G-20 members will discuss development issues such as how to finance infrastructure and food security in emerging economies.
The G-20 groups Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United States and the European Union.
2011-09-21 23:57:35
Financial chiefs from the Group of 20 advanced and emerging economies will discuss measures to address the Greek sovereign debt crisis and stabilize global financial markets when they gather Thursday in Washington.
During the working dinner, the G-20 finance ministers and central bank governors are expected to focus on ways to avoid spillover effects from the Greek debt crisis impacting bigger eurozone economies such as Italy and Spain.
Japanese Finance Minister Jun Azumi and Bank of Japan Governor Masaaki Shirakawa will join the meeting, which is to be held on the fringes of annual meetings of the International Monetary Fund and the World Bank.
Azumi told reporters in Tokyo on Tuesday he plans to explain again to other participants that the recent appreciation of the yen against the U.S. dollar and other major currencies is slowing the Japanese recovery after the March disaster.
But Tokyo's position is unlikely to draw any reaction from fellow G-20 members as it is not a central issue at a time of major financial crisis and some countries apparently prefer to keep their currencies weak against the yen to spur their economies through exports.
At the G-20 meeting, U.S. Treasury Secretary Timothy Geithner will discuss the steps necessary for the world economy to regain momentum, including strengthening growth and employment in the United States as well as forceful action by Europe to generate confidence and quell instability, the Treasury Department said Tuesday in a statement.
The G-20 is also expected to update its discussions on ways to correct global economic imbalances and the United States will likely prod China again to move faster toward a market-oriented currency regime.
Geithner will discuss ''the need for China and other emerging economies to continue to strengthen domestic demand and allow their exchange rates to adjust to market forces,'' the department said.
The G-20 is unlikely to issue a communique on the working dinner talks.
On Friday, the G-20 members will discuss development issues such as how to finance infrastructure and food security in emerging economies.
The G-20 groups Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United States and the European Union.
2011-09-21 23:57:35
