MEXICO CITY, Nov. 5 (Xinhua) -- Finance and central bank chiefs from G20 member countries are expected to wrap up their two days of meetings in Mexico City Monday with no new agreements, but more mechanisms for reducing risks.
Participants and observers said the U.S. financial cliff and Europe's debt crisis continued to dominate the talks, with countries concerned that the United States and the European Union are not acting with the urgency needed to spur growth and minimize risks.
Tuesday's U.S. presidential elections were given as the main reason lawmakers there have yet to decide on how to tackle a series of spending cuts and tax increases set to take effect at the beginning of 2013. In fact, U.S. Treasury Secretary Timothy Geithner failed to attend the weekend gathering.
Also by the end of the year, countries are to adopt banking regulation, known as the Basel III accords, but many nations and banks have said they need more time.
A final statement Monday is expected to express members' concerns over these delays, but include no new decisions.
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