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Stimulus measures should be maintained: Minister

(Xinhua)
Updated: 2009-09-05 11:02

LONDON: Chinese Finance Minister Xie Xuren said on Friday that the current economic stimulus measures should be maintained to ensure economic recovery and growth worldwide.

Chinese Finance Minister Xie Xuren (2nd R) speaks at a press conference after meeting with his counterparts from Russia, Brazil and India in London, capital of the UK,  Sept. 4, 2009. Finance ministers and central bank governors of the BRIC nations, namely Brazil, Russia, India and China, met here on Friday to discuss the situation of the world economy, as well as fiscal and monetary policy responses in BRIC countries, ahead of the G20 finance ministers and central bank governors' meeting. [Xinhua]

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After a BRIC-country meeting held in London, Xie told a news conference that the four countries are now at a key stage of economic recovery, and should strengthen their coordination of economic policy.

The finance ministers and central bank governors of Brazil, Russia, India and China, the so-called BRIC countries, gathered in London on Friday to discuss the current situation of the world economy, as well as their governments' fiscal and monetary policy responses.

Xie stressed that promoting the reform of international financial institutions is a common consensus reached at the G20 summit held in London in April, adding that "we must put it into practice in accordance with the timetable."

The Chinese minister also called on the international community to attach great importance to the imbalance between the North and the South, and to further help developing countries realize common development, so as to achieve a fundamental balance and sustainable growth of the global economy.

Chinese Finance Minister Xie Xuren (C) speaks at a press conference after the meeting with his counterparts from Russia, Brazil and India in London, capital of the UK, Sept. 4, 2009. Finance ministers and central bank governors of the BRIC nations, namely Brazil, Russia, India and China, met here on Friday to discuss the situation of the world economy, as well as fiscal and monetary policy responses in BRIC countries, ahead of the G20 finance ministers and central bank governors' meeting. [Xinhua]

Officials from Brazil, Russia and India echoed Xie's opinion, saying that they hoped the G20 countries would not abandon their fiscal stimulus packages too early.

They vowed to make more efforts to maintain world trade growth and sustainable economic growth, and looked forward to strengthening the role of the new emerging countries in the international financial institutions.

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