France seeks G20 deal on Imbalances, Unsure of Success |
|
February 14, 2011
France played down hopes on Monday of clinching a deal at a meeting of G20 finance ministers this week on which indicators should be used to measure global economic imbalances, but said that remained its goal.
France played down hopes on Monday of clinching a deal at a meeting of G20 finance ministers this week on which indicators should be used to measure global economic imbalances, but said that remained its goal. A G20 summit in Seoul last year mandated France's presidency to reach agreement in the first half of 2011 on a list of "indicative guidelines" for quantifying imbalances to prevent a repeat of the global economic crisis. Agreeing on a list will be the focus of this week's meeting in Paris. Disagreement has persisted between rich and developing nations over which indicators to select, with G20 officials saying China in particular is resisting pressure from developed nations to include factors like real effective exchange rates and the level of foreign assets. "We hope ... to reach agreements (this week) on economic performance indicators which will allow us to measure the way toward the optimal point," French Economy Minister Christine Lagarde told a news conference on Monday.
Related Links
