US, Japan fiscal plans escape mention in G20 communique

MOSCOW: The United States and Japan escaped specific mention in a final communique issued on Saturday by the Group of 20 economies that called for credible medium-term fiscal strategies in advanced economies.

The statement, issued after a two-day meeting of G20 finance ministers and central bankers, also tweaked earlier wording to say the G20 was determined to "accelerate", instead of "continue", progress towards rebalancing global demand.

An earlier draft had named the United States and Japan in relation to medium-term fiscal plans - but only in brackets, indicating that the wording had not been agreed. Both countries have run large budget deficits to stimulate their economies.

Source: http://economictimes.indiatimes.com/news/international-business/us-japan-fiscal-plans-escape-mention-in-g20-communique/articleshow/21191986.cms

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