France says "no crisis" in world economy as G20 meets
HONG KONG: France said there was “no crisis” in the world economy as a meeting of G20 officials kicked off Friday, despite warnings from the International Monetary Fund that the global recovery risked being derailed.
Speaking in Hong Kong en route to the meeting in Shanghai, French finance minister Michel Sapin said the global economy faced a series of difficulties but described them as “surmountable” and warned against overreaction to current problems.
It called for “strong policy responses” to contain the risks and foster growth amid simmering disagreements over how to face the challenges.
“We don’t have to put in action new policies, we don’t have to face a crisis like those we have known in the past,” Sapin told reporters.
“We must through continuity find the right measures, the right balance in each of our economies, so each country can face the real but surmountable difficulties that the IMF has recently described.”