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Euro zone crisis overshadowed the g-20 talks

He said Finance Ministers and Central Bank Governors of the g-20 major world they agreed that there was no need to set specific targets for reducing levels of debt and they will monitor the negative effects of monetary stimulus plans undertaken by many countries of the world such as Japan.

Russia’s Finance Minister, said Anton silwanov, told a press conference after a two-day meeting of the g-20 officials believe that reducing levels of religion is more important than giving specific figures, the agreed reductions will serve as strategic goals can be identified for each national economy.

He said in a statement Friday that the Group would study whether there are side effects to extended financial incentive.

The central banks flooded the economy with money to promote credit and spending, but that raised the concern that private capital fled to the developing countries.

Silwanov said that the G20 had agreed that there is a need to monitor the effects of the Japanese stimulus programme worth $ 1.4 trillion, which announced earlier this year.

He noted that the euro zone crisis dominated talks in Washington and that austerity measures in the region could not lift them out of recession.

It was reported that the meeting marked by differences over identification numbers to reduce the public debt of the State, where the United States and Japan pledge to give specific figures for the cut.

Russia was chairing the G20 now recently said it hopes to get specific targets by the next meeting of the Group’s leaders in September in St. Petersburg.

The world’s major economies return currently consider the austerity measures accorded great importance in the last years, which led to weak economies aimed at reducing deficits.

Currency war

Reports said that the Finance Ministers and Central Bank Governors in the States during their conversations going on twenty sidelines the World Bank and the International Monetary Fund to avoid a currency war and their commitment not to compete in the devaluation of the local currency to avoid the negative consequences of monetary policies of developed countries to emerging economies.

Reports said that he will issue a statement at the conclusion of the two-day meetings reaffirming States that monetary policy does not target only domestic goals without affecting the international currency markets, as agreed in the Moscow meetings in February.