© REUTERS / Aly Song
SHANGHAI, Feb. 27 – RIA Novosti. “Financial twenty” during a meeting in Shanghai recognized that simple and quick solution that various governments are taking to accelerate the growth of the economy, do not work, and structural reforms that are difficult, are necessary to overcome the crisis.
“The acceleration of structural reforms could become a source of potential growth in the medium term and will contribute to greater stability and flexibility of the economy”, – stated in the final communiqué of the meeting of finance ministers and central bank Governors “Group of twenty” which was completed on Saturday in Shanghai
. “The launch of structural reforms – is a critical element of the necessary policy and I welcome the G20 decision to include this area as a priority”, – he said at the final press conference, participated in a meeting of the International Monetary Fund (IMF), Christine Lagarde.
Most of the participants of “financial twenty”, according to a source in the Russian delegation noted that once again all international organizations have to revise their forecasts for 2016-2017 downward .
at the summit in Brisbane in 2014, G20 leaders pledged to take measures that will enable an additional 2.1% increase in global GDP by 2018. Participants of the meeting in Shanghai have recognized that the prospects of reaching it is very vague. The best that can be counted -. An additional increase of 0.8%, according to a communiqué of the
Passion for the yuan
On the eve of the meeting appeared in the press reports, that the devaluation of the RMB will be one of the topics of discussion. However, this issue was never on the agenda
The People’s Bank of China during a press conference the head of the bank, Zhou Xiaochuan on the “twenty” fields, issued a press release, a statement that the reason for the prolonged depreciation of the yuan is not. The head of the Chinese Central Bank has assured that China is not going to deliberately devalue its currency to boost exports.
“China is opposed to competitive currency depreciation to stimulate foreign trade volume of our exports is still large, China will not engage in competitive devaluation of national currency..” – He said,
Premier of the State Council of China Li Keqiang. in a video address to the participants of the “financial twenty”, in turn, also said that the reason for the prolonged depreciation of the RMB exchange rate is not and it will be maintained at a stable level
IMF chief Christine Lagarde also said at a press conference, that the theme of the exchange rate was not discussed by ministers and heads of the Central Bank, “twenty”, naming the item “invention” of journalists and commentators.
“As for the devaluation of the yuan, I think that we clearly heard from the prime minister China’s State Council in his address to the G20, as well as all the representatives of the Chinese authorities, at the People’s Bank of China, that there is no intention, and the decision on devaluation of national currency “, – said the head of the IMF
. FATF and terrorism
One of the main topics of the meeting was also countering the financing of terrorism. “Group of Twenty” countries agreed to strengthen cooperation in this fight.
“We are determined to fight the financing of terrorism. We will intensify our efforts to fight the sources, technologies and channels of financing terrorists and strengthen our cooperation on information exchange . We call on all countries to join in this effort “, – stated in the final document
a source in the Russian delegation told reporters that all the countries.” twenty “unanimously supported this position communiqué
“it is enough to be jointly supported by the wording of all countries, of course, were kakie-to amendment proposals, but there was a situation when kto-to categorically opposed to this point (the Suppression of the financing of terrorism – Ed.) or proposed some more serious moments to remove, “- he said,
at the same time.” twenty “has commissioned the FATF to check how the requirements of the organization correspond to the current level of terrorist threat
a source in the Russian. the delegation noted that all previous recommendations of the “twenty” elaborated on this theme, when it came to small terrorist organizations, and it was clear how to deal with them. “Here the situation when it comes to terrorist groups that control the territory of entire countries,” -. He said,
The report of the FATF, is likely to be presented by the summer of this year
Rules. debt
Russian Finance Minister Anton Siluanov, speaking at the meeting, suggested that the finance minister and central bankers G20 to develop a system rules the settlement of sovereign debt.
Russia raises this question is not the first time, but the topic has not been reflected in the communiqué of the meeting. Russia offers a “twenty” to develop a common approach to the resolution of the sovereign debt that countries do not have to deal with these problems individually in court. However, according to a source in the Russian delegation, no concrete proposals from the parties were heard. “With the exception of the Argentine ideas to offer” Top Twenty “chip in and prepare a special study on the Argentine briefcase on the topic of how not to do”, – he said
Argentina for many years trying to solve the question of the restructuring of its debt, however. the process stalled because of litigation with private holders of bonds of the country
However, the Argentine delegation has brought good news to the meeting of “twenty”:. has been annotated, that on Monday, February 29, the government signed an agreement on the final settlement of the Argentine debt .
“Financial twenty” in Shanghai has become one platform with which Argentina’s comeback began in the international arena after years of self-imposed isolation: the meeting was attended by representatives of the newly elected government of the country
on Saturday. Shanghai ended a two-day meeting of finance ministers and central bank Governors “Group of twenty”, chaired by China.
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