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Entries in Economic Indicators (1)

Sunday
Feb202011

G20 Reaches Deal on Economic Indicators, Bends for China

French Finance Minister Christine Lagarde appears on ABC's 'This Week.' Photo Courtesy - ABC News (file)(PARIS) -- After two days of negotiations at the G20 Finance summit in France, leaders have reached a compromise on indicators used to detect economic balances.

"The negotiations were frank, sometimes tense, and led to a final compromise which cannot attribute to any one delegation but which I can say represents a spirit of compromise and of ambition," French Finance Minister Christine Lagarde said at a press conference.

A large part of negotiations revolved around getting China to jump on board, who had resisted the inclusion of current account surpluses, a measure of cash flow in and out of a country from trade and other activities, in determining economic balances.

Although the G20 will not exclude current account surpluses from their list of indicators, they have agreed to make adjustments for China by excluding the interest payments the country makes on its foreign currency reserves.

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