The world's top economies have embraced a goal of generating more than 2 trillion dollars in additional output over five years while creating tens of millions of new jobs, while also promising more transparency in monetary policy to allay the concerns of emerging economies.
A widespread slowdown in global economic productivity is threatening to usher in a new low-growth era, the Organisation for Economic Cooperation and Development has warned.
UK Chancellor George Osborne said next month’s Budget will continue to confront Britain’s problems as he cautioned the recovery was “not yet secure” despite a recent surge in growth.
Advanced economies, including the United States, must avoid pulling back stimulus too quickly given the weak global economic recovery and recent market volatility highlights key risks in some emerging markets, the International Monetary Fund said on Wednesday.