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Action not words needed to boost growth, Australia tells G20

Published on Jul 17, 2014 2:32 PM
Australian Prime Minister Tony Abbott delivers his keynote speech during the B20 Summit in Sydney on July 17, 2014. Over 350 business leaders have gathered in Sydney for the 2014 B20 Summit to discuss and determine policy recommendations ahead of the G20 Leaders Meeting in Brisbane later this year. -- PHOTO: AFP

SYDNEY (AFP) - Australian Prime Minister Tony Abbott called Thursday for G20 economies to adopt more ambitious growth targets, urging leaders not to "waste each other's time" with a talk-fest.

Abbott told more than 380 business leaders from the grouping attending a two-day B20 summit in Sydney that the world's economies were still "in the shadow of the (financial) crisis" and "action, not words" was needed to boost growth.

"The G20 will deliver a three-page communique in plain language because we need to talk not at length about our good intentions, but precisely what we would do to put good intentions into practice," the Australian leader said.

"I made a promise at Davos this year. I said that the G20 had to be so much more than a talk-fest.

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