By Tomoyuki Tachikawa
ST. PETERSBURG, (PNA/Kyodo) — Leaders from the Group of 20 economies will wrap up their two-day summit Friday and are expected to confirm the necessity of their policy cooperation, as a slowdown in emerging economies and market confusion triggered by a potential U.S. strike on Syria could choke global economic growth.
In a statement to be released following the end of the summit in St. Petersburg, Russia, the leaders from the world’s leading economies are also expected to reiterate that industrialized countries should promote fiscal consolidation to prevent a recurrence of shocks such as the eurozone sovereign debt crisis.
In the first-day session of the meeting, some members urged developed nations to carefully implement future changes to unconventional monetary policy, with fears growing the U.S. Federal Reserve’s winding down of its stimulus could push down their currencies further and bring about inflation, a Japanese government official said.