Finance ministers from the G20 nations have pledged to take action to boost global demand, signaling a coordinated effort to address concerns about the fragility of the global economic recovery. The commitment was made at the conclusion of their recent meeting, where discussions centered on strategies to promote sustainable and balanced growth.

Key Priorities Identified

The ministers highlighted several key priorities for achieving stronger global growth:

• Fiscal Policy: Implementing fiscal policies that support demand while ensuring long-term sustainability.
• Monetary Policy: Maintaining accommodative monetary policies to support economic activity and price stability.
• Structural Reforms: Pursuing structural reforms to enhance productivity, competitiveness, and job creation.

Addressing Global Imbalances

The G20 also acknowledged the need to address persistent global imbalances, which they view as a potential source of instability. They committed to working together to reduce excessive current account imbalances and promote a more balanced pattern of global demand.

Commitment to Cooperation

The finance ministers reaffirmed their commitment to close cooperation and coordination in addressing the challenges facing the global economy. They emphasized the importance of working together to achieve strong, sustainable, and balanced growth that benefits all countries.