July 23, 2016 / 6:11 AM / a year ago

Treasury's Lew says time to redouble efforts to boost growth

United States Secretary of the Treasury Jacob Lew attends a panel for the High-level Tax Symposium held in Chengdu in Southwestern China's Sichuan province, Saturday, July 23, 2016.Ng Han Guan/Pool

CHENGDU, China (Reuters) - U.S. Treasury Secretary Jack Lew said on Saturday it was important for G20 countries to redouble efforts to boost shared growth using all policy tools, including monetary and fiscal policies as well as structural reforms to boost efficiency.

Speaking to reporters at a G20 meeting of finance ministers and central bankers in China, Lew said it was important to maintain earlier commitments by members of the Group of 20 major economies to consult with each other on exchange rate policy and to avoid competitive devaluation.

"This is a time when it is important for all of us to redouble our efforts to use all of the policy tools that we have to boost shared growth," Lew said.

Reporting by David Lawder; Writing by John Ruwitch; Editing by Tom Hogue

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