AFP, Shanghai :
The global economic recovery is “uneven and falls short of our ambition for strong, sustainable and balanced growth”, G20 finance ministers said Saturday after a meeting in China.
The finance ministers and central bank chiefs of the world’s top 20 economies agreed to use “all policy tools” available, including monetary, fiscal and structural ones, to foster economic confidence and “preserve and strengthen the recovery”, they said in a communique.
“There are growing concerns about the risk of further downward revision” in global economic prospects, they added.
Among the rising “downside risks and vulnerabilities”, they cited “volatile capital flows, a large drop of commodity prices, escalated geopolitical tensions, the shock of a potential UK exit from the European Union and a large and increasing number of refugees in some regions”.
“We agree that we need to do more to achieve our common objectives for global growth,” they said, adding they will use the tools at their disposal “individually and collectively”.
The global economic recovery is “uneven and falls short of our ambition for strong, sustainable and balanced growth”, G20 finance ministers said Saturday after a meeting in China.
The finance ministers and central bank chiefs of the world’s top 20 economies agreed to use “all policy tools” available, including monetary, fiscal and structural ones, to foster economic confidence and “preserve and strengthen the recovery”, they said in a communique.
“There are growing concerns about the risk of further downward revision” in global economic prospects, they added.
Among the rising “downside risks and vulnerabilities”, they cited “volatile capital flows, a large drop of commodity prices, escalated geopolitical tensions, the shock of a potential UK exit from the European Union and a large and increasing number of refugees in some regions”.
“We agree that we need to do more to achieve our common objectives for global growth,” they said, adding they will use the tools at their disposal “individually and collectively”.
