G20 finance leaders pledge to protect global growth

SUMMARY

Finance ministers and central bank chiefs from the Group of 20 major economies wrapped up a meeting in Japan on Sunday with a pledge to use all the policies they can to protect global growth. The G-20 finance leaders said in a joint communique that risks from trade and geopolitical tensions were "intensifying." "We reaffirm our commitment to use all policy tools to achieve strong, sustainable, balanced and inclusive growth, and safeguard against downside risks," the leaders said. They added that despite the risks, global growth appeared to be stabilizing and was expected to pick up later this year and next year. The leaders spent the weekend haggling over issues ranging from taxes to debt and artificial intelligence as China and the US showed no sign of breaking their stalemate over trade and technology.

By APJun 9, 2019 3:27:13 PM IST (Published)

China's Central Bank Governor Yi Gang shakes hands with U.S. Treasury Secretary Steve Mnuchin, left, during the G20 Finance Ministers and Central Bank Governors meeting. (Kim Kyung-hoon/Pool Photo via AP)

US Treasury Secretary Steven Mnuchin speaks to media at the venue of G20 Finance Minister and Central Bank Governors meeting. (AP Photo/Eugene Hoshiko)

Japan's Finance Minister Taro Aso, center, stands with IMF Managing Director Christine Lagarde, left, and Bank of Japan Governor Haruhiko Kuroda, right, before a family photo of the G20 finance ministers and central bank governors meeting in Fukuoka, Japan. (Franck Robichon/Pool Photo via AP)

Police officers control traffic near the venue of G20 Finance Ministers and Central Bank Governors meeting in Fukuoka. (AP Photo/Eugene Hoshiko)

Japanese coast guard ship and security personnel patrol at sea near the venue of G20 Finance Ministers' and Central Bank Governors' meeting. (AP Photo/Eugene Hoshiko)

U.S. Treasury Secretary Steven Mnuchin, left bottom, and China's Finance Minister Liu Kun, right top, pose with other participants for a family photo of the G20 finance ministers and central bank governors meeting. (AP Photo/Eugene Hoshiko)

Japan's Finance Minister Taro Aso, center right in front, and Bank of Japan Governor Haruhiko Kuroda, center left in front, pose with other ministers and central bank governors during a family photo session of the G20 meeting. (AP Photo/Eugene Hoshiko)

Participants finish their family photo session of the G20 finance ministers and central bank governors meeting in Fukuoka, western Japan. (AP Photo/Eugene Hoshiko)