APEC finance ministers agree to maintain stimulus packages
Finance ministers of the 21
Asia-Pacific Economic Cooperation (APEC) member economies have agreed
to keep stimulus measures in place order to sustain the recovery.
Finance ministers of the 21
Asia-Pacific Economic Cooperation (APEC) member economies have agreed
to keep stimulus measures in place order to sustain the recovery.
The finance ministers at their meeting in Singapore on Nov. 12 reach a consensus on the important role of supportive fiscal measures in the region preventing an even deeper global recession. They resolved to remain vigilant until the economic recovery gains traction.
Also at the meeting, the ministers called for undertaking monetary policies consistent with price stability in the context of market-oriented exchange rates that reflect underlying economic fundamentals.
Besides, they also agreed to take specific steps to adjust imbalance between external trade surplus and deficits, which was blamed for the global financial crisis.
At the same time, they pledged to strengthen domestic sources of growth, through increasing investment, curbing financial market disorder, boosting services and improving social security.
The finance ministers' meeting is a prelude to the annual APEC Economic Leaders' Meeting to be held on Nov. 14-15.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam./.
The finance ministers at their meeting in Singapore on Nov. 12 reach a consensus on the important role of supportive fiscal measures in the region preventing an even deeper global recession. They resolved to remain vigilant until the economic recovery gains traction.
Also at the meeting, the ministers called for undertaking monetary policies consistent with price stability in the context of market-oriented exchange rates that reflect underlying economic fundamentals.
Besides, they also agreed to take specific steps to adjust imbalance between external trade surplus and deficits, which was blamed for the global financial crisis.
At the same time, they pledged to strengthen domestic sources of growth, through increasing investment, curbing financial market disorder, boosting services and improving social security.
The finance ministers' meeting is a prelude to the annual APEC Economic Leaders' Meeting to be held on Nov. 14-15.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, the United States and Vietnam./.
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