U.S. Treasury Secretary Timothy Geithner on Tuesday said that the U.S. economy appeared to be picking up steam and G20 leaders gathering in Pittsburgh this week would strive to ensure the recovery was balanced.
We are at the very beginnings of this recovery ... We need to make sure that we keep at this, so we have in place a recovery that is going to be self-sustaining, led by private demand, (and) a financial system that can actually provide the credit that is needed, he told a press briefing.
G20 leaders will meet in Pittsburgh on September 24-25 and Geithner said the aim was to take stock of the world economy and ensure better growth in the future.
To make sure that as we recover from this crisis we are laying the seeds for a more balanced, more sustainable recovery. That is the agenda, Geithner said.
U.S. officials want the G20 to adopt a framework aimed at lifting growth in export-orientated members like China, Germany and Japan, while boosting savings and curbing consumption among import-hungry debtors like the United States.
(Reporting by Tabassum Zakaria and Alister Bull; Editing by Theodore d'Afflisio)