ISLAMABAD: Finance ministers of the world's 20 wealthiest economies has assessed during a wrap up of two-day G-20 meeting in Paris that the global economic recovery is strengthening but it is still uneven and downside risks.
Delegates also expressed concern about the nearly thirty percent hike in basic food prices just the last year as posing threat to emerging economics,private news channels reported.
Finance Ministers and Central Bank Governors have reached consensus on several indicators to monitor global economic imbalances.
A communique released after the meeting said that the G-20 countries agreed on a set of indicators that will allow them to focus through an integrated two-step process, on those persistently large imbalances which required policy actions. In April the second Finance Ministers meeting under the French G-20 presidency is to take place in the United States.
Chinese Finance Minister, Xi Xuren has called for major economies to continue to strengthen cooperation on international economic issues and maintain the stability of main reserve currencies.
He urged countries to reduce malicious capital flows that are aimed at arbitrage on international levels and has the potential of pushing up global inflation.
He said China will sustain an active fiscal policy and a prudent monetary policy through 2011 and continue to make economic structural reform in a bid to transform its model of economic growth.
Finance Ministers and Central Bank Governors also reached a compromise to correct global economic imbalances.
India stresses for a coordinate approach to tackle food commodity and price rise vitality which would make emerging economies vulnerable.
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