The Group of 20 nations, wary of renewed market volatility, stressed the need on Friday to shift policy carefully and communicate clearly as countries seek to chart a course to recovery.
A draft communique prepared for G-20 finance ministers and central bankers meeting in Moscow said an action plan would be readied for their leaders in September to boost jobs and growth, continue monetary policy support and increase domestic demand where appropriate.
"Policy uncertainty has recently triggered an increase in financial markets volatility and financial conditions have tightened," the draft obtained by Reuters said.
"This has mostly affected emerging market economies, and some of them experienced a large increase in local bond yields, depreciation of currencies and liquidity pressures."
Ministers will review the text over dinner and will call for greater clarity in policy "messaging" after signals of a withdrawal of U.S. monetary stimulus caused a global selloff in stocks and bonds, and a flight to the dollar.
G-20 leaders will meet in St. Petersburg in September.
A paper that International Monetary Fund staff prepared for the Moscow meeting warned that financial market turmoil could deepen unless policymakers were careful.
"The current market turbulence could continue and deepen. Growth could be lower than projected due to a protracted period of stagnation in the euro area, and risks of a longer slowdown in emerging markets have increased," the paper, seen by Reuters, said.
"The eventual exit from low rates and unconventional monetary policy in advanced economies could pose challenges for emerging economies, especially if it proceeds too fast or is not well communicated."
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Fed Chairman Ben Bernanke's announcement two months ago that the central bank may start to wind down its $85 billion in monthly bond purchases sparked a panicky selloff, particularly in emerging markets.
Investors were calmed by testimony to Congress this week by Bernanke, who is not in Moscow, although he said the exit plan from money-printing remained on the cards.
"The communique will reflect the need for coordinated efforts and for the predictability of quantitative easing policies," Russian Finance Minister Anton Siluanov said after meeting officials from the BRICS emerging markets caucus.