"Global growth remains weak, and downside risks have become more salient," the Washington-based lender said in a report. Just ahead of the meeting, the IMF called on key G20 nations to boost government spending. "There is an urgent need for G20 countries to step up their efforts to turn growth around," it said. In its most recent forecast, the IMF lowered its forecasts for global growth this year and next by 0.1 percent, to 3.1 percent and 3.4 percent respectively. A senior US Treasury official said he hoped excess capacity would be mentioned in the G20 meeting's final communique on Sunday.

Source: Bangkok Post July 23, 2016 09:45 UTC