Proposal for investment targets faces opposition

Istanbul

GROUP of 20 finance officials look likely to reject a proposal to set countries specific investment targets to spur a global economy which looks increasingly reliant on the US for growth.

The meeting of finance ministers and central bankers in Istanbul comes as Greece casts a new shadow over Europe, cheap oil plays havoc with inflation and growth forecasts and a strengthening dollar threatens emerging economies.

Deputy Prime Minister Ali Babacan said that Turkey - G-20 chair for 2015 - preferred to set binding national investment targets but it appeared to be struggling to win support. "Would all international countries be committed? . . . We don't know yet," Mr Babacan said in a speech on Monda…