The Group of 20 (G-20) nations are determined to continue doing everything possible to contain the Covid-19 pandemic, warning in a draft communiqué that the global economic recovery remains “uneven, highly uncertain, and subject to elevated downside risks”.
The International Monetary Fund said more public spending will be needed to complete the economic recovery from coronavirus, joining central bankers and finance leaders who are urging governments to set aside fears about mounting debt for now.
US Federal Reserve Board Vice Chairman Stanley Fischer said that the economic recovery has been and remains “disappointing” and made it clear that he expects monetary policy to continue to play a significant role in encouraging growth in the future.