Source: CNTV   Published: 2015-9-8

The G-20`s finance ministers and central bank governors have pledged to take decisive action to keep economic recovery on track. The promise was made in a communique adopted at the end of a two-day meeting in Ankara, Turkey, on Saturday.

The communique said that the G-20 finance ministers and central bank governors would try to avoid persistent exchange rate misalignments, and continue to monitor developments and address emerging risks as needed to foster confidence and financial stability.

The economic policy makers also stressed their commitment to moving toward more market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals and to avoid persistent exchange rate misalignment.

IMF Managing Director Christine Lagarde says downside risks have increased for emerging economies.

Lagarde also says the major challenge that is facing the global economy is that growth remains moderate and uneven. Activity is projected to pick up only modestly this year and next for the advanced economies.

Lagarde also said that the US Federal Reserve shouldn`t rush its decision to raise interest rates and move only when it`s sure the decision is unlikely to be reversed later.

The meeting participants also urged the United States to ratify an IMF reform plan that has been postponed several times. They said they hope that progress can be made on reviewing the currency package of the Special Drawing Rights during an IMF meeting in November.

IMF Chief Christine Lagarde also discussed the plight of migrants in Europe during the meeting, saying the situation is everybody`s problem.

"Reality comes back to haunt you when you see the kind of pictures that were on display and on social media so vividly in the last few days, and it really identifies the link between jobs, between hope and it certainly from my perspective reinforces the mission that we have to try to help and be as practical as we can on the ground, in programmes and in the policy advise we give. But it is everybody`s business. It is not just international institutions` business," Lagarde said.

A photograph of a three-year-old Syrian boy`s tiny body face-down in the surf, appeared in newspapers around the world, prompting sympathy and outrage at the perceived inaction of developed nations in helping the refugees.