G20 examines slowing world economy, inflation

RIO DE JANEIRO, Sept 1 (AFP) Officials from the Group of Twenty (G20) industrialised and developing nations wrapped up a weekend meeting here yesterday that examined the effects of slowing world economic growth and climbing inflation, participants told reporters. brWe are looking at how to face inflationary pressures and growth problems, one official who declined to be identified, said. brThe delegates, from economy ministries and central banks, held their meeting behind closed doors, with media excluded. brDeclining economic growth spreading out from the United States and now affecting Europe and other regions headlined discussions. brThe International Monetary Fund (IMF) prepared an briefing for the meeting that showed a revised 2008 rate of growth for the world economy of 3.9 per cent, down from 4.1 per cent. In 2009, the prediction was for 3.7 per cent, down from an initial forecast of 3.9 per cent. brThe gathering here was called to ready the annual meeting of G20 economy ministers and central bank chiefs that will take place in Sao Paulo in November, with representatives from the IMF and the World Bank. brCreated in 1999, the G20 is a forum bringing together wealthy and emerging economies that together account for 85 per cent of the world's economy. brIn Sao Paulo, the former G20 group plans to deliver its evaluation of world markets and the functioning of multilateral organisations. brIt will also discuss clean energy, and examine financial tools to promote economic development.