G20 sets boosting growth as priority for economy

MOSCOW: The G20 on Saturday agreed that boosting growth and jobs is the near-term priority for the global economy and said any changes to nations' monetary stimulus packages should be clearly communicated.

Finance chiefs from the G20 group of advanced and emerging nations also backed an action plan drawn up by the OECD to crack down on tax avoidance by multinationals and help replenish diminished budgets.

"We agreed that our near-term priority is to boost jobs and growth," said the final communique from their meeting in Moscow. "Future changes to monetary policy settings will continue to be carefully calibrated and clearly communicated," it added as the US Federal Reserve considers cutting its quantitative easing programme.