WRAPUP 3-G20 to say world needs to look beyond ultra-easy policy for growth

Sat Feb 27, 2016 8:14am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* G20 says monetary policy alone cannot provide balanced growth

* Economic risks highlighted include potential EU "Brexit"

* Ministers agreed to use "all policy tools"

* No plan to use specific, coordinated stimulus to spur growth

* Policymakers reiterated pledge to refrain from devaluations

By Gernot Heller and Adam Jourdan

SHANGHAI, Feb 27 (Reuters) - The world's top economies declared on Saturday that they need to look beyond ultra-low interest rates and printing money to shake the global economy out of its torpor, while renewing their focus on structural reform to spark activity.

A communique from the Group of 20 (G20) finance ministers and central bankers flagged a series of risks to world growth, including volatile capital flows, a sharp fall in commodity prices and the potential "shock" of a British exit from the EU.

"The global recovery continues, but it remains uneven and falls short of our ambition for strong, sustainable and balanced growth," said the communique, issued at the end of a two-day meeting in Shanghai.   Continued...