G-20 Nations Pledge to Avoid Competitive Devaluations: Statement
- Global growth has fallen short of policy makers' expectations
- Central bankers to communicate clearly on interest rates
The following is the full text of the final communique released by the Group of 20 nations finance ministers and central bankers after a meeting in Ankara on Friday and Saturday.
1. We met in Ankara to review ongoing economic developments, our respective growth prospects, and recent volatility in financial markets and its underlying economic conditions. We welcome the strengthening economic activity in some economies, but global growth falls short of our expectations. We have pledged to take decisive action to keep the economic recovery on track and we are confident the global economic recovery will gain speed. We will continue to monitor developments, assess spillovers and address emerging risks as needed to foster confidence and financial stability.