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G20 sticks with stimulus, will coordinate exit
LONDON |
LONDON (Reuters) - The G20 group of leading powers agreed on Saturday to keep pumping money into their economies until a global recovery was firmly secured while seeking to work out a clear strategy for withdrawing emergency policy steps later.
The final joint communique from the meeting of finance ministers and central bankers in London pledged to work with the International Monetary Fund and Financial Stability Board to agree how to withdraw economic stimulus.
"Working with the IMF and the FSB we will develop cooperative and coordinated exit strategies, recognizing that the scale, timing and sequencing of actions will vary across countries and across types of policy measures," it said.
The statement made no direct reference to bankers' pay and efforts to curb bonuses but in a separate statement targeted making progress on delivering global standards for pay including possible "clawback" of bonuses.
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