G-20 Finance Ministers pledge to boost global economy

Posted on:26 Jul 2016 18:26:08

G-20 Finance Ministers pledge to boost global economy
26 July 2016 Current Affairs GK: The Finance Ministers from the Group of 20 (G-20) major economies have pledged to boost the global economy, which is showing a weak recovery. 

This announcement was made at the end of the two-day meeting of G-20 Finance ministers and Central Bank Governors meeting held in the Chinese city of Chengdu.

Highlights of meeting G-20 :  Finance ministers expressed concern about Britain’s plan to leave the European Union and how Brexit will affect the world’s economy. 

Member nations are well positioned to pro-actively to address the potential economic and financial consequences from such developments. They vowed to reject trade protectionism, which became a prominent issue at the meeting. 

They expressed the importance of reducing the excess production of steel that has led to a glut on the global market.

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