August 28, 2016

"China's Finance Minister Lou Jiwei said Sunday that several rounds of financial and monetary policy consultations this year ahead of the upcoming G20 summit have generated many results.

Financial and central bank officials from G20 members decided nine prioritized areas and 48 guiding principles for structural reforms, said Lou, calling the progress a 'milestone'.

The policy makers for the first time proposed using monetary, financial and structural reform measures to boost growth and stabilize outlook. They also agreed to push reforms of the World Bank and the International Monetary Fund."

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