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'Reforms needed to boost growth'

Reuters/Ankara
Filed on September 6, 2015 | Last updated on September 6, 2015 at 08.39 am
Reforms needed to boost growth

Monetary policy has been a key focus at a meeting of finance ministers and central bankers from the Group of 20 in the Turkish capital Ankara this week.


Finance chiefs from the world's leading economies broadly agree on the need to undertake structural reforms to boost productivity against a backdrop of loose monetary policy, Britain's finance minister George Osborne said on Saturday.

Monetary policy has been a key focus at a meeting of finance ministers and central bankers from the Group of 20 in the Turkish capital Ankara this week, but several policy makers have also called for accelerated structural reforms.

"I'm very clear, as indeed are many people sitting around the table, that countries need to live within their means," Osborne told Reuters in an interview, when asked whether there had been discussion of a need for more fiscal stimulus.

"What I think we're all agreeing on is that there does need to be, alongside the very accommodative monetary policy in many countries you see, real structural reforms."

A delegate who had seen the latest version of a draft communique from the meeting said it included wording that an overemphasis on monetary policy would not yield balanced growth.





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