G20 Finance Chiefs Approach Consensus in South Africa
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Finance chiefs from the Group of 20 advanced and emerging economies said Friday that the global economy is facing
In a significant move, G20 finance ministers emphasise the need for central bank independence, countering US President Trump's ongoing criticisms of Federal Reserve leadership. This consensus marks a pivotal moment for global economic stability as the bloc navigates trade tensions.
G20 finance chiefs agreed a communique on Friday that underscored the importance of central bank independence and the role of the World Trade Organisation in advancing trade issues.
"The G20 was built around a presumption that all the world's major economies shared a common interest in a stable, relatively open global economy," said Brad Setser of the Council on Foreign Relations. "But Trump doesn't really care about stability and wants a more closed global economy."
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Durban G20 talks will seek to deepen global ties in "turbulent times," German sources sayA meeting of finance ministers and central bank governors from the Group of 20 in Durban, South Africa, will seek to deepen global relationships in "turbulent times", German finance ministry sources said on Tuesday,
At the G20 meeting in South Africa, finance chiefs emphasized central bank independence amid global economic uncertainty caused by trade tensions and extreme weather. The communique highlighted the need for cooperation and acknowledged the WTO's role in trade,
Chinese vice minister of finance Liao Min called on all parties to uphold multilateralism and free trade at the Group of Twenty (G20) Finance Ministers and Central Bank Governors meeting in Durban, South Africa,
In opening remarks, South Africa's Finance Minister Enoch Godongwana said the G20 must provide strategic global leadership, cooperation and action in the face of complex challenges.
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