U.S. Treasury Secretary Jacob J. Lew and Global Effort

commodity prices: The IMF is likely to further cut its global-expansion outlook in the next update in April, according to the report, according to The Japan Times. While officials including U.S. Treasury Secretary Jacob J. Lew have indicated there will not be a massive global effort to stem financial-market turbulence at the G-20, the report builds on calls for greater coordination to support a world economy coping with China slowdown and falling commodity prices. Group of 20 policymakers must act now to implement forcefully existing growth strategies while also planning for unified support for demand through fiscal spending, IMF staff said in a report ahead of meeting of finance ministers and central bankers in Shanghai on Friday and Saturday. Staff at the Washington-based lender also called for consideration of an international initiative to support nations at the center of the refugee crisis, saying noneconomic shocks could have significant spillover impacts. There is scope to go beyond the agreed strategies and introduce significant new measures designed along the principles of successful reforms to further boost output. Strong policy responses both at national and multilateral levels are needed to contain risks and propel the global economy to a more prosperous path, said the report, which is typically released before G-20 meetings and was prepared by staff members led by Helge Berger, a division chief in the IMF Research Department. (news.financializer.com). As reported in the news.