Russia central bank head after G20 says efforts needed to address weak growth

Russian central bank governor Elvira Nabiullina gestures during a news conference in Moscow, Russia, December 16, 2016. REUTERS/Maxim Shemetov - RTX2VBU1

MOSCOW (Reuters) - Many regions globally are showing economic growth but it’s weaker than the members of the G20 group had expected, Russian central bank governor Elvira Nabiullina said on Sunday.

Nabiullina attended a two-day meeting of the finance ministers and central bank governors of the 20 biggest economies in the German town of Baden-Baden, which ended on Saturday.

To address the issue of weak economic growth, efforts in monetary and fiscal policy, as well as in the policy of structural reforms are needed, Nabiullina said in emailed comments.

She added that capital flow volatility has become “a challenge for many”.

“Cooperation on the international level could help to solve the problem of sources of sharp capital flow volatility and its consequences,” Nabiullina said.

Financial leaders dropped a pledge to keep global trade free and open, acquiescing to an increasingly protectionist United States after the two-day meeting failed to yield a compromise.

Reporting by Katya Golubkova; editing by Jason Neely