Pittsburgh, September 25: The leaders of the world’s largest economies will agree today that it is too early to relax measures to stabilise the battered world financial system, despite signs of recovery.
The G20, however, will paper over important differences of emphasis between the major players on what the next steps should be, particularly in respect of ensuring that the global economic recovery does not begin to stall and that the calamity experienced over recent months never repeats itself.
Highly sensitive issues likely to be left for another day include the future of the US dollar as the dominant world currency – China and Russia have both suggested that its role as the de facto global reserve currency may be coming to an end – and whether headway can be made on giving greater representation to developing countries on international institutions like the International Monetary Fund.
–Agencies