G-20 Officials Recognize Risk of Global Slowdown

Economy

Washington, April 12 (Jiji Press)--Finance ministers and central bank governors from the Group of 20 economies on Friday acknowledged the risk of global economic slowdown partly stemming from an escalating U.S.-China trade dispute.

"We recognize the risk that growth prospect might deteriorate" if weakening in key economies feed into each other, Japanese Finance Minister Taro Aso told a press conference to wrap up a two-day meeting of the G-20 finance officials in Washington that ended Friday.

He also said, "There was a broad agreement that global growth will pick up modestly later this year," even though the balance of risks remains skewed to the downside.

Japan holds the G-20 presidency this year for the first time.

Bank of Japan Governor Haruhiko Kuroda, who co-chaired the meeting with Aso, said there is high uncertainty over issues such as trade frictions.

[Copyright The Jiji Press, Ltd.]

Jiji Press