G20 must deliver on agreed reforms - leaders
SEOUL, March 30 |
SEOUL, March 30 (Reuters) - The world economic recovery remains fragile and G20 governments need to recommit and deliver on reforms they have already agreed to, G20 steering group leaders urged fellow members in a letter on Tuesday.
The letter was signed by U.S. President Barack Obama, Canadian Prime Minister Stephen Harper, French President Nicolas Sarkozy, South Korean President Lee Myung-bak and UK Prime Minister Gordon Brown. (For full text click [ID:nTOE62T03V])
"Our first objective is the return to sustained growth and job creation. To fulfil this objective, we need to design cooperative strategies and work together to ensure that our fiscal, monetary, foreign exchange, trade and structural policies are collectively consistent with strong, sustainable and balanced growth," the leaders said.
The Group must ensure international financial systems are strengthened to meet the needs of the global economy and do more than just advocate for trade and against protectionism.
But the leaders made no direct reference to the tricky issue of foreign exchange flexibility, with China continuing to resist U.S. pressure to raise the value of the yuan [ID:N23252371]. (Reporting by Jonathan Thatcher; Editing by Sanjeev Miglani)
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