IMF vows to monitor G20 promises: Lagarde

Source:Xinhua Published: 2014-11-16 23:24:54

Managing Director of the International Monetary Fund (IMF) Christine Lagarde said on Sunday that her organization would closely monitor the G20 leaders ' commitments to economic growth.

Speaking at the conclusion of the G20 leaders summit in Brisbane, Lagarde said decisive policy action by all G20 members was key to making growth strong, sustainable, balanced and inclusive, and to creating needed jobs.

"The action plan was great but needs to be implemented," she told reporters.

"Our job will be to monitor country by country, action by action, reform by reform, whether there is delivery or not.

"We will ... report to the G20 as publicly as is possible."

Lagarde said progress on infrastructure investment, including the creation of a Global Infrastructure Hub in Australia, was a major step to boost economic growth.

"The IMF will continue to contribute to this important area of the G20's work," she said.

Lagarde said the G20's focus on a stronger trading system was very significant because it was an essential component of the global policy agenda.

"There are huge potential gains to be made through further integration," she said.

Lagarde said financial regulation and international taxation are other key areas of progress and praised the G20 agreement to reduce the gender gap in labor market participation by 25 percent by 2025.

"This will not only bring 100 million more women into the labor force, but also significantly increase global growth and reduce poverty and inequality," she said.

Lagarde also praised the efforts of the Australian G20 hosts, and looked forward to the continuing efforts at next year's G20, which will be hosted by Turkey.

"This has been a very productive year for the G20 ...their ( Australia's) effective leadership resulted in excellent discussions and pragmatic outcomes, embodied in the Brisbane Action Plan. I look forward to continuing our dialogue next year under the Turkish presidency," she said.

Posted in: Economy

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