G20 Describes Path To Global Economic Recovery

The Group of 20 Finance Ministers and Central Bank Governors ("G20") reviewed efforts to respond to "key economic challenges, as well as the progress . . . made since the beginning of this year." The meeting was held over two days in Chengdu, China.

In a Communiqué issued at the end of the conference, the G20 members conveyed the following:

• "The global recovery continues but remains weaker than desirable." This is due in part to high financial market volatility and geopolitical conflicts, and to fluctuating commodity prices and low inflation, both of which could be prevented by sharing the benefits of growth within and among countries in order to promote inclusiveness.
• The G20 will use "all policy tools – monetary, fiscal and structural – individually and collectively to achieve . . . strong, sustainable, balanced and inclusive growth." Achieving that goal will involve making tax policy and public expenditure more "growth-friendly" by prioritizing