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G20 Ministers call for continued Covid spending
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IANS | 08 Apr, 2021
Finance Ministers and central bank governors from the world's largest
economies have agreed on continued financial backing for countries
struggling due to the coronavirus pandemic "as long as required", said
the co-chair of a virtual G20 summit.
At the summit on Wednesday,
Daniele Franco, Italy's Minister of Economy and Finance, said
confronting the economic damage from the pandemic is the G20's top
priority, reports Xinhua news agency.
Franco said the
participants at the second G20 meeting of the year agreed to use "all
available policy tools for as long as required" in order to save lives
and livelihoods.
Franco also said increasing the global
availability of coronavirus vaccines in an "equitable and accessible"
way was part of that effort.
Franco and Ignazio Visco, Governor
of the Bank of Italy and the other co-chair of the talks, spoke to more
than 100 reporters on Wednesday via video hook-up from Rome.
That was the same format used by Ministers and governors for the negotiations.
While
the coronavirus pandemic was the central topic at the virtual summit of
representatives from 19 major economies and the European Union,
discussions also touched on other pressing issues, such as the need for
global action on climate change and the development of standards for a
global corporate tax rate.
Franco noted that the International
Monetary Fund had just upped its estimate for GDP)growth to 6.0 per
cent, up from 5.5 per cent in January.
He said that was a
positive sign, but he warned that the global economic outlook remained
"clouded by uncertainty" due to the impacts of the coronavirus pandemic.
Together, G20 countries account for 80 per cent of the world's GDP.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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