G20 predicts "modest" global slowdown

Central bank governors and finance ministers from the G20 economies said that the credit turmoil would likely have a "modest" effect on global growth, but added that it remained difficult to judge the eventual impact.

The governors and finance ministers "were pleased to note the resilience of emerging market and other developing countries during the recent turbulence" but said that the global slowdown's "extent and duration remains difficult to predict."

The G20 members said monetary authorit

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