Region:
World
Category:
Economy

The G20 proposed investments in infrastructure for the growth of the world economy

Argentina insisted on the G20 with the need to regulate speculative capital

Finance ministers and governors of central banks of the countries that make up the group of 20 have confirmed the importance of investing in infrastructure projects in order to boost the world economy.

Officials on Friday ended two days of meetings in Washington with issuing a statement in which it is mentioned that the growth of the world economy remains uneven and slow. However, the document notes that short-term prospects in highly developed countries, especially Japan and those that use the euro currency, have improved recently.

Financial leaders indicated that each country develops investment strategies before the next meeting to be held in September.

The statement does not directly ADB Infrastructure Investment, proposed by China reference. However, several emerging countries, including Turkey, who chaired the meeting, expressed support for the creation of the bank. Japan and the United States have remained outside the initiative.

After the G20 meeting, Finance Minister Taro Aso of Japan appealed against the media saying it is very important to ensure that the administration of the new bank is appropriate, arguing that the new institution needs to establish criteria assessment for lending, but now it's hard to know if it will be able to do so.

Japanese Finance Minister also said that loans without proper assessment could generate cases of failure repayment obligations and this could cause problems for traditional institutions like the World Bank and the Asian Development Bank.

traslation: Belén Zapata