At G20, U.S. will urge countries to kickstart global growth: Treasury official
WASHINGTON (Reuters) - The United States will urge countries during the G20 leaders summit this week to use monetary, fiscal and structural tools at their disposal to offset a shortfall in global demand, a senior Treasury official said on Tuesday.
"The United States will urge its counterparts to more vigorously and effectively use all available policy tools to help reinvigorate global growth now," the Treasury official said in a call to preview this weeks's G20 leaders' summit in Antalya, Turkey.
U.S. Treasury Secretary Jack Lew will join President Barack Obama and others at the summit on Nov. 15-16.
The Treasury will also urge countries with extra fiscal space to spend, said the official, who spoke on condition of anonymity.
The pace of growth in emerging markets has slowed, particuarly in China, the official said, which was particularly noteworthy as they have a "growing weight" and larger impact on the global economy than in years past.
The official also reiterated the the United States would support including the yuan in the IMF's benchmark currency basket, provided China meets the existing criteria of the international lender.
Earlier on Tuesday, Lew urged China to stick to its reform path and not try to compete by driving down its currency exchange rate.
(Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama)
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