G-20 Draft Warns of Fragile Recovery |
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June 3, 2010
The Group of 20 industrial and developing powers warned of risks to the global economic recovery while urging quick efforts to cut budget deficits, in a draft statement seen by Dow Jones Newswires Thursday.
The Group of 20 industrial and developing powers warned of risks to the global economic recovery while urging quick efforts to cut budget deficits, in a draft statement seen by Dow Jones Newswires Thursday.
The draft of the communique to be completed by G-20 finance ministers and central bankers when they meet Friday and Saturday in Busan, South Korea, shows the difficulty policy makers have in trying to support the recovery amid the euro-zone debt crisis while preparing for fiscal consolidation.
"The global economic recovery has continued thus far," the draft says. "However, the recent volatility in financial markets reminds us that the global economy is still fragile and international cooperation is much needed."
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