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Brazil Government Source: "Impasse" On Climate Issues At G20 Talks

ST. ANDREWS, Scotland -(Dow Jones)- Finance ministers from the Group of 20 leading economies have failed to reach an agreement on climate change issues Saturday because big developing economies don't want to make commitments before broader talks in Copenhagen next month, a Brazilian government source said.

Brazil, India and China were reluctant to agree new financial commitments at a finance minister level while climate negotiations were going on elsewhere, he said, adding that the discussions had gone on until 0600 GMT Saturday before ending at an impasse.

"This isn't the forum for these (climate) talks," the source said.

The G20 finance ministers would be turning their attention to discussions on macroeconomic issues from 1100 GMT, he said. Brazilian Finance Minister Guido Mantega, who held a meeting with U.S. Treasury Secretary Timothy Geithner earlier, planned to raise the issue of global imbalances, he added.

-By Nicholas Winning, Dow Jones Newswires, +44 207 842 9498; nick.winning@ dowjones.com

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