The G20 group of rich and developing nations vowed on Sunday to pursue coherent policies in a world of increasingly global business and trade where high oil prices and protectionism threaten growth and prosperity. Oil prices could boost inflationary pressure, slow growth in the global economy and destabilize it, the group said in a statement issued after its meeting. Imbalances in the global economy and rising protectionism also raised uncertainty, Reuters quoted the statement as saying.
