APEC ministers to reject fiscal tightening: draft
SINGAPORE (AFP) –
APEC finance ministers will reject any premature moves towards fiscal tightening and advocate a steady retreat from stimulus measures, according to a draft communique obtained by AFP Tuesday.
“We agree that the solution is not to rush to fiscal tightening, especially while credit markets are still recovering,” the draft said.
“Careful planning and timing withdrawal of extraordinary stimulus measures will help to avoid a double-dip recession.”
Leaders of the 21-member Asia-Pacific Economic Cooperation (APEC) forum, including the United States and China, will meet in Singapore on November 14-15 to discuss global economic recovery, environmental issues and free trade.
The draft finance ministers’ statement is currently being refined by senior officials, ahead of the ministerial meeting on Thursday.
“While we have transited from a crisis to a more …
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