G20 meetings in Washington will be dominated by discussion of unprecedented monetary easing across the world. As the Bank of Japan's Haruhiko Kuroda has recently begun radical monetary policy, there are concerns that attempts to bring back growth could backfire.
An anonymous G20 official told Reuters:
Everyone is interested in a strong Japanese economy, but the repercussions of these measures and their viability need to be explored.
A Eurozone official told Reuters:
Overall the view is that Japanese initiatives focused on the country's domestic problems go in the right direction
But there will be a debate on the consequences outside of Japan, including on foreign exchange rates.
Russian Finance Minister Anton Siluanov:
Interest rates are now at very low levels and ... we can see that there is a risk.
In case of raising interest rates, the rising cost of debt will lead to yet another wave of debt problems, as the cost of servicing sovereign debt will increase.