G-20 Vows to Use All Policy Tools against Economic Risks

Economy

Riyadh, Feb. 23 (Jiji Press)--Group of 20 top finance officials expressed their commitment on Sunday to "use all available policy tools" to address downside risks to the global economy, including those from the outbreak of the COVID-19 coronavirus.

"We will enhance global risk monitoring, including of the recent outbreak of COVID-19. We stand ready to take further action to address these risks," the G-20 policymakers said in a communique summing up their discussions at a two-day meeting in the Saudi Arabian capital of Riyadh.

"We remain committed to use all available policy tools to achieve strong, sustainable, balanced and inclusive growth, and safeguard against downside risks," the officials said.

The communique said, "After signs of stabilization at the end of 2019, global economic growth is expected to pick up modestly in 2020 and 2021."

"However, global economic growth remains slow and downside risks to the outlook persist, including those arising from geopolitical and remaining trade tensions and policy uncertainty," it also said.

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