The G-20 group of finance ministers and central bankers gathering in Sydney has wrapped up. Flights are boarded and interviews written up, but once again it leaves a bitter taste in our mouths. It feels as though, once again, the G-20 nations have had to justify their gargantuan and logistically complex meetings by producing a communiqué with meat on the bone, rather than another lean and flavorless statement.
Often criticized for comprising too many nations and acting as little more than a talking shop, the G-20 club of finance ministers and central bankers has yet again sought to free itself of that image.
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In its communiqué, the G-20 announced it aims to boost the world's gross domestic product (GDP) by an extra 2 percentage points -- or the equivalent of $2.25 trillion -- over the next five years.
What a catchy headline! That target does sound impressive. Even more so, it sounds refreshing as the world's financial policymakers have finally been able to pivot from crisis-fighting mode to looking at getting economic growth back on the right (upward) trajectory.
However I'm not entirely convinced whether its latest pledge will give the G-20 the much needed credibility. Here are three reasons why: