Search Result for : G20 Countries

PTI The world's top 20 economies on Sunday agreed to improve international trade governance in view of the global slowdown due to increasing anti-trade measures that have become more universal since 2009. G20 nations, which account for 85 per cent of the world trade, would remain committed to an open global economy, and will further work towards trade liberalisation and facilitation, said a statement released following the two-day G20 Trade Ministers Meeting in Shanghai. The World Trade Organisation (WTO) statistics showed that global trade growth has slowed significantly since 2008, from an average of over 7 per cent per annum between 1990 and 2008, to less than 3 per cent between 2009 and 2015. Last year marked the ...

The Dollar Business Bureau The G20 countries have reiterated the need to prioritise financial transparency and effective implementation of standards of transparency by all its member countries. This needs to be done to protect the integrity of the international financial system, and to prevent corruption, tax evasion, terrorist financing and money laundering. This was discussed in the G20 Finance Ministers and Central Bank Governors Meeting in Washington DC on Friday. All countries and jurisdictions should fully implement the Financial Action Task Force (FATF) standards on transparency and beneficial ownership information for tackling tax evasion, terrorist financing and money laundering, the G20 Finance Ministers announced in an official communique released by the International Monetary Fund (IMF). The IMF in its statement detailed that, “We ...

Source: PTI Near-term growth prospects remain favourable in India, but some macroeconomic imbalances still exist, International Monetary Fund (IMF) said on Thursday ahead of the meeting of finance ministers from G-20 countries in Turkey. "In India, while near-term growth prospects remain favourable and external vulnerabilities have decreased, some macroeconomic imbalances remain," IMF said in its report 'Global prospects and policy challenges' meant for the G-20 meeting of finance ministers in Ankara. "While the faster-than-expected fall in inflation has created space for considering modest cuts in the nominal policy rate, medium term inflationary pressures and upside risks to inflation remain," the report said. With balance sheet strains in the corporate and banking sectors, financial sector regulation in India should be enhanced, provisioning ...