1.   Among the initiatives backed by finance ministers are the fight against inflation, medium-term fiscal consolidation, and reducing external imbalances such as trade.

2.   A sustained and broad-based expansion will create jobs, reduce external imbalances, and contribute to financial market stability.

3.   External imbalances are trade deficits.

4.   They try to guard against external imbalances, including trade imbalances, that could hammer currencies.

5.   These will contribute to more balanced growth in the world economy, thereby reducing external imbalances.

6.   In this context, we emphasized the importance of avoiding exchange rates that could lead to the reemergence of large external imbalances.

7.   As recovery spreads, the pattern of growth will help promote adjustment of external imbalances.

8.   The OECD said external imbalances could also generate trade frictions, leading to protectionist actions.