G20 economies need effective crisis management

Updated: 2012-06-21 09:02


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WASHINGTON - The Group of Twenty (G20) members must effectively manage rising economic risks, deliver on past commitments and adopt more complete and collective policies to achieve their growth objectives, the Washington-based International Monetary Fund (IMF) said on Wednesday.

"Global growth appears to be weakening and remains susceptible to serious risks," the IMF said in a report assessing these major countries' economic situations and policies at the request of the G20.

The eurozone crisis remains the most immediate threat to global financial stability and economic growth through its spillover effects, noted the report released here after the conclusion of G20 summit in Los Cabos, Mexico.

"More attention is required to tackle stubbornly high unemployment in the near term in advanced economies," added the IMF.

The global lender also presses for strengthened global collective efforts to deliver appreciable mutual benefits towards achieving lasting stability and growth.