Financial leaders from the Group of Twenty (G20) called on Friday (18) for a cautious and well-coordinated stance to navigate recoveries after the coronavirus crisis.
The council of financial authorities, which includes finance ministers and central bank governors, also agreed on the need to minimize the impact of interest rate hikes in the US and elsewhere to fight inflation.
“We agreed that to support the global financial system, we need a well-coordinated and well-considered policy of normalization,” Indonesian Central Bank President Perry Warjiyo told reporters at an online news conference.
“This is important for these policies to have minimal impact on global financial markets and developing countries,” he added.
Meetings like the one held yesterday and today in Jakarta lay the groundwork for a summit of G20 leaders later this year.
As of Friday night local time, the leaders had not yet released their statement.
But Indonesian officials indicated that much of what was discussed was carried over from last year’s talks: global fiscal policies, climate finance and funding to improve public health.
Opening the meetings, Indonesian President Joko Widodo urged countries to cooperate to support the global recovery and avoid tensions like those in Ukraine.
“The pandemic is far from over and the global economy is struggling,” said Widodo.
Source: CNN Brasil
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