A leading international economic organization says governments around
the world are not doing enough to implement a series of policies once
agreed upon to boost economic growth in the coming years.
The Paris-based Organization for Economic Cooperation and
Development, in its annual growth report released Monday, urged
countries to follow through on "comprehensive growth strategies" such
as increasing labor productivity and becoming more competitive and
The report was published as finance ministers and central bankers from
the world's 20 leading economies gathered in Istanbul for Monday's
opening of a G20 meeting aimed at coordinating action to spur economic
Participants will discuss efforts toward meeting their commitment made
last year to lift the global economic output by two percent in 2018.
Concerns of the G20 ministers about major economies running at
different speeds, and monetary policies diverging will also be on the
The meeting will continue Tuesday.
Turkish Deputy Prime Minister Ali Babacan said Sunday tackling
sluggish growth and giving low-income nations a greater voice are
among the priorities for Turkey's G20 presidency.
Babacan said pushing G20 members to meet previous reform commitments
would be key.
Fulfilling pledges made at November's G20 summit in Brisbane could add
more than $2 trillion to the global economy and create millions of new
jobs over the next four years, IMF chief Christine Lagarde said in a
blog post Friday.
Another top G20 concern is whether the United States alone can sustain
the global economy as most of the world slows.
Influencing the G20 ministers' plans are the Greek government's
demands to restructure its debt, cheap oil-influencing inflation and
growth forecasts, and a strengthening dollar threatening emerging
Also on the agenda will be a request by France to discuss the fight
against terrorist financing, an important topic for Turkey as fighting
with Islamic State militants continues just over its southern borders
in Syria and Iraq.
Credit: VOA News