G-20 meet to discuss state of world economy

Group-20 (G-20) nations will discuss the state of world economy amid growing concerns over slow growth during their meeting in Washington DC, NHK World has reported.

Japanese Finance Minister Taro Aso and Bank of Japan Governor Haruhiko Kuroda will chair the meeting that will last for two days.

The finance chiefs of the world's top economy are expected to deliberate on solutions to quell the trade friction and other risks that are dragging on economic growth, NHK World reported on Tuesday.

They are also likely to weigh up rules proposed by the Organisation for Economic Co-operation and Development (OECD) to give governments more power to tax Information Technology (IT) giants such as Google, NHK World further reported.

G-20, which last met in Osaka for its fourteenth meeting in June this year, had made several decisions on international economic cooperation on various issues.

G-20 is a group of finance ministers and central bank governors from the world's largest economies, including those of many developing nations, along with the European Union with a mandate to promote global economic growth, international trade, and regulation of financial markets.