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