Russia will remain a member of the G20 because it's too difficult to kick it out of the economic group. That's the assessment of the Australian organizer of this year's leaders' summit, being held this fall in Brisbane.
Finance officials from the world's major economies believe an ambitious goal to boost global growth by $2 trillion in the next five years is within reach despite a variety of threats, including rising tensions over Russia's actions in Ukraine.
The market turmoil sparked by the Federal Reserve's steps toward removing the U.S. economy from life support is expected to be a top agenda item when finance chiefs from the world's biggest economies meet in Sydney this weekend.
German Chancellor Angela Merkel says she'll press for progress on financial regulation at next week's summit of global economic powers, which comes ahead of Sept. 22 elections in which she's seeking a third term.
World finance leaders say they are determined to attack a sluggish global economy in which growth is too weak and unemployment too high. Their problem is arriving at a consensus over the proper mix of policies.
Finance ministers and central bank governors from the world's leading economies met in Mexico on Sunday amid growing fears over the global impact of Europe's debt crisis and the stalemate over a fiscal plan in the United States.