Geithner urges global action to boost growth
WASHINGTON: US Treasury Secretary Timothy Geithner on Thursday called on global finance chiefs to boost growth, but said a repeat of the massive coordinated fiscal stimulus efforts of 2009 was no longer possible.
In an opinion piece written for the Financial Times, Geithner said the United States must strengthen employment, Europe must act more forcefully to quell its debt crisis and China and other emerging markets should strengthen domestic demand and allow their currencies to rise more rapidly.
"The imperative remains to strengthen economic growth. Fiscal policy everywhere has to be guided by the imperatives of growth," Geithner wrote a day before finance ministers from the Group of Seven wealthy economies are due to meet in Marseille, France.
Copyright Reuters, 2011
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