G20 pledges to tackle imbalances

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G20 leaders on Friday stepped up the rhetoric on global imbalances, acknowledging "a responsibility to ensure sound macroeconomic policies that serve long-term economic objectives".

Leaders at the summit made global imbalances, widely credited as one of the key causes of the crisis, the centrepiece of their communiqué, attaching more prominence to the issue than to global financial regulation, which figured heavily in the April statement.

The move to stamp out imbalances focused on the creation

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