G-20 Should Act to Revive Growth

Bankers group says markets want coordinated response to slowdown at next week’s meeting.

Investors want global leaders meeting in Mexico next week to take action on reviving economic growth, the Institute of International Finance said.

“Markets will be looking expectantly for evidence of a globally coordinated policy response targeted to revive growth prospects worldwide on a sustainable basis,” IIF Managing Director Charles Dallara said in a letter today to leaders attending the Group of 20 summit in Los Cabos, Mexico, on June 18-19.

Greek Election

Dallara said a new Greek government following June 17 elections should “reaffirm its commitment to the central tenets of its reform program -- liberalizing labor and product markets, advancing privatization, and strengthening the competitiveness of the economy with a greater focus on fiscal and structural reforms.”

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