Uncertainties cloud global economy, G20 nations must resolutely address challenges: RBI Guv

 

Bengaluru:  RBI Governor Shaktikanta Das on Friday called upon G20 nations to resolutely address the challenges, like threats to financial stability and debt distress that confront the global economy.

Addressing the inaugural session of the meeting of G20 finance ministers and central bank governors, Das said although the outlook for the global economy has improved in recent months and there is now greater optimism that the world may avoid a deep recession and only experience slow growth or softer recession,”yet uncertainties lie ahead of us.” “Together we must resolutely address the challenges that confront us, including those that are of medium to long-term nature such as threat to financial stability, debt distress, climate finance, fractures in global trade and strains on global value chains. We must promote greater global economic cooperation and position the global economy on a trajectory of strong sustainable balanced and inclusive growth,” Das said.

This is the first meeting of the finance ministers and central bank governors of G20 — a grouping of developing and developed nations — under the India Presidency.