G20 leaders say world economy is improving

The G20 powers said the world economy was improving but it was too early to declare an end to the crisis.

The prospect that the Federal Reserve may rein in its expansive monetary policies as soon as this month has plunged into turmoil some emerging economies that had enjoyed rapid growth helped by a flood of cheap dollars.

In talks on the economy described as “difficult”, leaders in St Petersburg managed to find a common form of words.