OTTAWA, Nov 17: The risks to world economic growth have risen in the past month amid unprecedented foreign exchange volatility, Bank of Canada Governor David Dodge said on Saturday in a conference call.
“From our discussions, both bilateral and in the big room, it’s quite clear that the downside risks to world growth have increased since we met about a month ago at the IMF,” Dodge told Canadian reporters in Ottawa from Kleinmond, South Africa, where a meeting of G20 finance ministers and central bank governors is taking place on Saturday and Sunday.
Finance ministers and central bankers from the Group of Seven industrialised nations had met in Washington in October on the sidelines of a meeting of the IMF. “It’s quite clear that the global financial turbulence that we were experiencing then (in October) is now going to be more prolonged and the volatility is likely to continue,” Dodge said. —Reuters
