G-20 Finance Ministers pledge to boost global economy
The Finance Ministers from the Group of 20 (G-20) major economies have pledged to boost the global economy, which is showing a weak recovery.
This announcement was made at the end of the two-day meeting of G-20 Finance ministers and Central Bank Governors meeting held in the Chinese city of Chengdu.
Key Highlights of meeting
- G-20 Finance ministers expressed concern about Britain’s plan to leave the European Union and how Brexit will affect the world’s economy.
- Member nations are well positioned to pro-actively to address the potential economic and financial consequences from such developments.
- They vowed to reject trade protectionism, which became a prominent issue at the meeting.
- They expressed the importance of reducing the excess production of steel that has led to a glut on the global market.