G20

LEADERS SEEK TO RETOOL ECONOMY

Eve-of-summit tension over global economic imbalances and International Monetary Fund reform yesterday highlighted the difficulty of sustaining international policy co-ordination as the financial crisis fades.

Nonetheless, leaders said they saw Pittsburgh as cementing the emergence of a new architecture for the global economy – with the G20 at the centre agreeing priorities.

The communiqué that emerges from the summit is expected to focus on global macroeconomic policy and financial regulatory reform.

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