{
  "title": "Press Release: Statement by IMF Managing Director Christine Lagarde on G-20 Ministerial Meeting in Moscow",
  "publication": "IMF News, July 20, 2013",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr13269",
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  "summary": "Press Release No.13/269",
  "publishDate": "2013-07-20",
  "sections": [
    {
      "heading": "Meeting context",
      "content": "- Press Release No.13/269\n- Date: July 20, 2013\n- Issued by: IMF COMMUNICATIONS DEPARTMENT, Media Relations\n- Contact: E-mail: media@imf.org; Phone: 202-623-7100\n- Event: Group of 20 Finance Ministers and Central Bank Governors meeting in Moscow, with a joint Labor and Employment and Finance Ministers’ meeting also convened."
    },
    {
      "heading": "Key findings and observations from the statement",
      "content": "- Global economic conditions:\n  - \"The global economy remains too weak and unemployment is too high in many countries.\"\n  - \"Although there are signs of strengthening activity in the U.S. and Japan, the recession in the euro area continues, and many emerging markets are growing at a slower pace.\"\n  - \"There has also been an increase in financial market volatility and tightening of financial conditions.\"\n- Issues discussed at the meeting:\n  - Spillover effects of monetary policies.\n  - Implications of recent market volatility.\n  - Need for balanced and credible fiscal strategies.\n  - Importance of comprehensive structural reforms to raise productivity, reduce rigidities, and support growth.\n  - Financial regulation and international taxation issues, including international spillovers of national tax policies.\n  - Employment and job creation programs discussed by the joint Labor and Employment and Finance Ministers’ meeting."
    },
    {
      "heading": "Policy recommendations and calls to action",
      "content": "- Fiscal and monetary policy:\n  - Pursue balanced and credible fiscal strategies in light of tightening financial conditions and market volatility.\n  - Consider spillover effects when designing and implementing monetary policies.\n- Structural and labor policies:\n  - Implement comprehensive structural reforms to raise productivity and reduce rigidities.\n  - Combine employment and job creation programs with appropriate macroeconomic and labor policies to foster innovation, promote growth, and high quality jobs.\n- Financial regulation and taxation:\n  - Continue work on financial regulation reforms and address international spillovers of national tax policies; the IMF will continue to contribute given the significant implications for the global economy.\n- Governance and IMF reform:\n  - Complete the IMF’s 2010 quota reforms; countries are urged to quickly ratify the measures necessary to implement this important agreement and complete the governance reform agenda as soon as possible in line with IMF commitments."
    },
    {
      "heading": "Forward-looking engagement",
      "content": "- The statement looks ahead to the G-20 Summit of Heads of State and Government in St. Petersburg in September, where key issues and challenges facing the global economy discussed in Moscow will be reviewed.\n\nSource: Press Release No.13/269, July 20, 2013, IMF Communications Department.\n\n---\n\n Content in this bundle\n\n- Pr13269rpdf (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Japan and the IMF\n- Russian Federation and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr13269"
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    "Published: July 20, 2013",
    "Press Release No.13/269",
    "Date: July 20, 2013",
    "Issued by: IMF COMMUNICATIONS DEPARTMENT, Media Relations",
    "Contact: E-mail: media@imf.org; Phone: 202-623-7100",
    "Event: Group of 20 Finance Ministers and Central Bank Governors meeting in Moscow, with a joint Labor and Employment and Finance Ministers’ meeting also convened.",
    "Global economic conditions:",
    "Issues discussed at the meeting:",
    "Fiscal and monetary policy:",
    "Structural and labor policies:",
    "Financial regulation and taxation:",
    "Governance and IMF reform:",
    "The statement looks ahead to the G-20 Summit of Heads of State and Government in St. Petersburg in September, where key issues and challenges facing the global economy discussed in Moscow will be reviewed.",
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    "[Russian Federation and the IMF](http://www.imf.org/external/country/RUS/index.htm)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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