Communiqué of the Seventieth Meeting of the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24), September 20, 2003, Dubai, United Arab Emirates

Ministers observe that, notwithstanding the abatement of some of the uncertainties to the global economy, the outlook continues to be subject to important risks, owing to the persistent global imbalances, the slow pace of economic recovery, and the limited progress in addressing structural problems in major advanced economies. They consider that the continued heavy dependence on the United States for global growth and the large current account imbalances among the major regions create the risk of disorderly currency movements and a resurgence of protectionist pressures.