G-20 Finance Ministers Pledge to Boost Global Economy [ Current News (Concise) ]

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Finance Ministers from the Group of 20 (G-20) major economies have promised to improvement the global economy, they say is a showing a weak recovery. At the end of the two-day meeting of G-20 this announcement was made.

  • Finance ministers and Central Bank Governors meeting held in the Chinese city of Chengdu.
Group of 20 meetingheld in the Chinese city of Chengdu.

Group of 20 meetingheld in the Chinese city of Chengdu.

Showing image of Group of 20 meetingheld in the Chinese city of Chengdu.

  • Global finance officials promised to protect the world economy from the shockwaves of Britain’s European Union poll and to boost the growth.

Highlights of meeting:

  • G-20 Finance ministers stated concern about how Brexit will affect the world’s economy and Britain’s plan to leave the European Union.
  • Member nations are well situated to pro-actively to address the potential economic and financial significances from such developments.
  • They promised to reject trade protectionism, which became a noticeable issue at the meeting.
  • They expressed the significance of reducing the additional production of steel that has led to a surplus on the global market.
  • The issue is related between China and its trading partners, who say Beijing exports steel at unreasonably low prices.

About G-20:

Image shows the G-20

Image shows the G-20

showing image of G-20

  • G-20 is a Group of Twenty and an international forum for the governments and central bank governors from 20 major economies.
  • It was founded in 1999.
  • The aim of G-20 is to studying, reviewing, and promoting high-level discussion of policy issues relating to the promotion of international financial stability.

- Published/Last Modified on: July 26, 2016