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G20 global growth pledge

Monday, November 16, 2015 - 01:39

The heads of the world's 20 largest economies are expected to pledge to use all of their policy tools to tackle uneven economic growth that has fallen short of expectations. But as Sara Hemrajani reports the two-day meeting in Turkey was overshadowed by the deadly attacks in Paris.

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After Friday's attacks in Paris - a new focus for world leaders at the G20 summit. International security and defeating the so-called Islamic State dominated the agenda of the two-day meeting. But discussions also turned to the summit's original goal - finding ways to boost the global economy. A draft of the final communique contains a pledge by government chiefs to use all policy tools available to tackle disappointing and uneven growth. Host Tayyip Erdogan highlighted the weak performance so far. SOUNDBITE: Tayyip Erdogan, Turkish President saying (Turkish): "Since the global crisis started, we haven't got rid of this vicious cycle of recovery and slowdowns. In many countries, room for maneuver in money and financial policies is getting smaller. the uncertainties in financial markets are signaling new risk factors. The political tension is adding to these risks." The global economy remains a mixed bag for investors, with the U.S. showing improvement, China and Europe looking vulnerable and Japan now back in recession. CCLA's James Bevan says the G20 needs a united front. SOUNDBITE: James Bevan, Chief Investment Officer, CCLA saying (English): "The G20 must now look at a broad set of measures to encourage economic recovery across a broad range of economies rather than just a narrow front. Many economies recognise that it is important to have more co-operation and global growth trends are now uniformly weak." Still the mood outside Turkey is sceptical since G20 plans often fail to result in concrete action. But now leaders will be feeling the pressure to prove the forum is much more than a talking shop.

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G20 global growth pledge

Monday, November 16, 2015 - 01:39