国际英语新闻:G20 finance officials pledge to boost global economic recovery
LONDON, Sept. 5 (Xinhua) -- Finance ministers and central bank governors of Group of 20 (G20) pledged on Saturday to boost the global economic recovery and to plan an exit strategy from the extraordinary economic stimulus when time is mature to take actions.
A communique issued at the end of a meeting of the G20 top finance officials said that "we will continue to implement decisively our necessary financial support measures and expansionary monetary and fiscal policies, consistent with price stability and long-term fiscal sustainability until recovery is secured."
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IMF Managing Director Dominique Strauss-Kahn speaks during a news conference after the G20 Finance Ministers meeting in London, capital of the U.K., Sept. 5, 2009. G20 Finance ministers and central bank governors on Saturday agreed to take further actions to ensure sustainable economic growth |
There is no doubt that the darkest time of global economic recession in the past 70 years has passed and the dawn of economy recovery is emerging.
However, there are also many uncertainties in the road of recovery and many analysts and government officials have predicted that the recovery will be slow and weak at least in the next year.
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Britain's Chancellor of the Exchequer Alistair Darling fields questions at a news conference after the G20 Finance Ministers meeting in London, capital of the U.K., Sept. 5, 2009. G20 Finance ministers and central bank governors on Saturday agreed to take further actions to ensure sustainable economic growth |
It is under such a uncertain situation that the G20 finance ministers and central bank governors stressed that the stimulus policy should continue until the recovery is confirmed.
Meanwhile, when and how to exit from the extra-large and extraordinary economic stimulus measures implemented by many economies is another important issues facing major economics. If they exit too soon from the stimulus policy, the fragile world economy could easily deteriorate again and lapse into another contraction. To exit too late will increase the risks of inflation and soaring government debt, posing new risks for the long-term economic growth.
The G20 communique said that "we agreed the need for a transparent and credible process for withdrawing our extraordinary fiscal, monetary and financial sector support as recovery becomes firmly secured".
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U.S. Treasury Secretary Tim Geithner attends a news conference after the G20 Finance Ministers meeting in London, capital of the U.K., Sept. 5, 2009. G20 Finance ministers and central bank governors on Saturday agreed to take further actions to ensure sustainable economic growth. |
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