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Structural reforms key to global growth strategy - Lew/Osborne in WSJ
February 9, 2015 / 6:28 AM / 3 years ago

Structural reforms key to global growth strategy - Lew/Osborne in WSJ

ISTANBUL (Reuters) - Structural reforms as well as fiscal and monetary policy must be part of any strategy for global growth, U.S. Treasury Secretary Jack Lew and British Finance Minister George Osborne said in a joint Wall Street Journal op-ed published late on Sunday.

British Chancellor of the Exchequer George Osborne speaks at the session 'Recharging Europe' in the Swiss mountain resort of Davos January 23, 2015. REUTERS/Ruben Sprich

The article, on the eve of a meeting of G20 finance ministers and central bankers in Istanbul, said reforms to boost productivity and raise living standards were key, including infrastructure investment and support for small businesses.

“Our message at the G20 is this: governments must use the full set of tools they have at their disposal to support their economies and realise the collective G20 objective of strong, sustainable and balanced global growth,” they wrote.

They also said it was important for Greece to implement a credible and comprehensive approach to reform, recovery and economic growth, in close consultation with its European and international partners.

Writing by Nick Tattersall; Editing by Dasha Afanasieva and Eric Meijer

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