The G20 finance ministers and central bank governors called for accommodative monetary and fiscal policies as the global growth remains ‘uneven’ with subdued progress in Eurozone and Japan.
According to a communique released after the two-day meeting of G20 finance ministers and central bank governors in Istanbul on Tuesday, officials expressed determination to overcome challenges to achieve the common objective of strong, sustainable and balanced growth and to add jobs and foster inclusiveness.
Officials noted that the current economic conditions require accommodative monetary policies in some economies. On the other hand, few advanced economies with stronger growth prospects are moving closer to policy normalization. Amid diverging monetary policy settings and rising financial market volatility, policy settings should be carefully calibrated and clearly communicated to minimize negative spillovers, officials said. Click here to read more.