ANKARA (Reuters) - A push by emerging market countries to characterize possible rate hikes in developed nations as a serious risk for the global economy was rejected by drafters of the G20 communique, a source from the Russian delegation told reporters on Friday.
“Some emerging market countries wanted to fix a position,” the source said, when asked whether an expected hike by the U.S. Federal Reserve would feature in the communique.
“In one of the wild formulations it said that this was the biggest threat to the world economy. This was killed immediately and forever,” the source said.
The communique would mention changes in monetary policy without referring to specific countries, the source added.
Reporting by Dasha Afanasieva; Editing by Nick Tattersall