WRAPUP 5-G20 urges U.S. to act quickly to avoid default

Fri Oct 11, 2013 6:37pm EDT
 
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* U.S. doing 'everything possible' to clinch debt deal-Siluanov

* Republican offer spurs optimism debt crisis to be averted

* G20 worried over risk of broad and deep fallout if not

* Monetary policy must be calibrated, well-communicated

* Global recovery continuing, but downside risks remain

By Anna Yukhananov and Louise Egan

WASHINGTON, Oct 11 (Reuters) - Finance officials from the world's biggest economies on Friday pressed the United States to head off a potentially devastating default and vowed to proceed carefully when the time comes to normalize monetary policy.

A communique issued at the end of a meeting of Group of 20 finance ministers and central bankers said the United States "needs to take urgent action to address short-term fiscal uncertainties."   Continued...