US Treasury's Lew says time to redouble efforts to boost growth

CHENGDU: US Treasury Secretary Jack Lew said on Saturday it was important for G20 countries to redouble efforts to boost shared growth using all policy tools, including monetary and fiscal policies as well as structural reforms to boost efficiency.

Speaking to reporters at a G20 meeting of finance ministers and central bankers in China, Lew said it was important to maintain earlier commitments by members of the Group of 20 major economies to consult with each other on exchange rate policy and to avoid competitive devaluation.

"This is a time when it is important for all of us to redouble our efforts to use all of the policy tools that we have to boost shared growth," Lew said.