Black People : USA tells G8, if IMF good enough for Africa, it's good enough for the world

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  1. Putney Swope

    Putney Swope Well-Known Member MEMBER

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    U.S. To Push For New Economic World Order At G-20
    Published on 09-22-2009 Email To Friend Print Version

    Source: Reuters

    The United States will urge world leaders this week to launch a new push in November to rebalance the world economy, but there are doubts national governments will bow to external advice.

    A document outlining the U.S. position ahead of the September 24-25 Group of 20 summit in Pittsburgh said exporters, which include China, Germany and Japan, should consume more, while debtors like the United States ought to boost savings.

    "The world will face anemic growth if adjustments in one part of the global economy are not matched by offsetting adjustments in other parts," said the document, which was obtained by Reuters on Monday.

    The framework drafted by U.S. policy makers foresaw analysis of G20 members' economic policies by the International Monetary Fund to figure out if they were consistent with better balanced growth.

    "We call on our finance ministers to launch the new framework by November," the document said, signaling a determined effort to maintain momentum for change created by last year's global financial crisis.

    The United States envisages the IMF playing a central role in a process of "mutual assessment" by making policy recommendations to the G20 every six months.

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