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MOSCOW, Aug. 27 (Xinhua) -- Sluggish1 growth and spillovers of the U.S. Federal Reserve's plan to scale back its economic stimulus2 are expected to feature prominently in discussions at the upcoming leaders' summit of Group of 20 or G20, said Russian organizers of the event Tuesday.
At the St Petersburg summit slated3 for Sept. 5-6, policy makers4 will discuss ways to boost sagging5 economies in both developed and developing countries, which include creating favorable environment for private investment and scaling up investment in infrastructure6, said G20 Sherpa Ksenia Yudaeva at a press conference here.
Meanwhile, uncertainties7 surrounding the U.S. Federal Reserve's plan to phase out stimulus are also expected to dominate talks at the G20 summit, she added.
Fed Chairman Ben Bernanke announced in June that the American central bank would start winding8 down its bond purchases later this year if the economy continues to improve as expected. The plan has raised concerns among investors9 and some emerging economies about depreciation10 of currencies and possible financial instability incurred11 by the U.S. central bank's exit of its economic stimulus program.
As for possible fiscal12 strategies G20 leaders would adopt to promote sustainable growth, Yudaeva said there will be "no unified13 approach" for all countries, as economic situation varies from country to country. But the ultimate goal is same, which is to " improve the fiscal situation in the medium term."
Russia, which holds the G20 rotating presidency14 this year, outlined a strategic agenda of igniting a new cycle of economic growth through quality jobs and investment, trust and transparency, and effective regulation, according to Yudaeva.
G20 leaders, she said, will adopt plans to assess global risks and set out actions regarding financial and structural15 reforms and job creation.
On the global financial and economic landscape, Yudaeva said one of the progress made since last year is a more stabilized16 Europe. Taking into consideration its economic growth momentum17, " Europe seems to get out of the recession," she said.
As for the new formula of the International Monetary18 Fund (IMF) quotas19, Yudaeva admitted it was the area where the least progress has been achieved.
Though a new formula is currently under discussion, but no further steps could be taken without the implementation20 of previous decisions, Yudaeva said. "We expect the U.S. congress will prove (sic) 2010 reform sometime this fall and this will open the window for further discussion and finalize21 the discussion next January."
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1 sluggish | |
adj.懒惰的,迟钝的,无精打采的 | |
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2 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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3 slated | |
用石板瓦盖( slate的过去式和过去分词 ) | |
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4 makers | |
n.制造者,制造商(maker的复数形式) | |
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5 sagging | |
下垂[沉,陷],松垂,垂度 | |
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6 infrastructure | |
n.下部构造,下部组织,基础结构,基础设施 | |
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7 uncertainties | |
无把握( uncertainty的名词复数 ); 不确定; 变化不定; 无把握、不确定的事物 | |
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8 winding | |
n.绕,缠,绕组,线圈 | |
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9 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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10 depreciation | |
n.价值低落,贬值,蔑视,贬低 | |
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11 incurred | |
[医]招致的,遭受的; incur的过去式 | |
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12 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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13 unified | |
(unify 的过去式和过去分词); 统一的; 统一标准的; 一元化的 | |
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14 presidency | |
n.总统(校长,总经理)的职位(任期) | |
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15 structural | |
adj.构造的,组织的,建筑(用)的 | |
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16 stabilized | |
v.(使)稳定, (使)稳固( stabilize的过去式和过去分词 ) | |
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17 momentum | |
n.动力,冲力,势头;动量 | |
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18 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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19 quotas | |
(正式限定的)定量( quota的名词复数 ); 定额; 指标; 摊派 | |
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20 implementation | |
n.实施,贯彻 | |
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21 finalize | |
v.落实,定下来 | |
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