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- G20 to discuss uneven recovery from COVID crisis - officials
G20 to discuss uneven recovery from COVID crisis - officials
Reuters reports that officials said that the world’s financial leaders will discuss on Wednesday how to coordinate policies to prevent their virus-battered economies emerging from recession at highly different speeds.
When finance ministers and central bank governors of the world’s top 20 economies hold their video-conference the patchy response to the ongoing COVID-19 crisis will be high on their agenda, officials from the Italian presidency said.
“The first signals are uneven, some economies are picking up well and others are being left behind, this is something that is clouding the global economic outlook,” said one official.
COVID inoculation rates vary widely, with Britain and the United States far outstripping most European Union, Asian and especially African countries.
“At the moment the main instrument of economic policy is vaccinations,” the official said, noting that the United States is also adopting massive fiscal stimulus, which analysts expect will lead to a faster recovery.
“We’re aware that it’s not possible for some countries to get out of this crisis and others not to ... so the G20 is the best venue to discuss these aspects and find solutions,” he added.
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