G20 finance ministers and central bank governors emphasized concerted action to promote global economic recovery

2022-02-21

The two-day meeting of G20 finance ministers and central bank governors ended in Jakarta, the capital of Indonesia, on the 18th. The communique issued that night called on all members to take concerted action to control the epidemic and promote global economic recovery. The communique said that the level of countries' access to the new coronavirus vaccine and treatment methods is uneven, and there are differences in macro-control policies, resulting in inconsistent recovery steps among countries. Supply chain disruptions, supply and demand mismatches and rising commodity and energy prices have led to rising inflationary pressures in some countries and regions, posing a potential threat to the global economic outlook. In this regard, members will focus on enhancing the resilience of the global supply chain, pay attention to the current geopolitical tensions and risks caused by macroeconomic and financial vulnerabilities. The communique said that members pledged to maintain financial stability and long-term sustainability. When formulating policies to support economic recovery, we should make a detailed plan and fully communicate according to the specific situation, so as to avoid downside risks and negative spillover effects. The communique also said that members pledged to continue to support less developed countries to achieve recovery together. Member representatives reaffirmed their commitment to strengthening the resilience of the international financial system, including promoting sustainable capital flows. Members also pledged to reinvigorate investment in infrastructure and encourage capital involvement. (Xinhua News Agency)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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