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G7 announces readiness for new steps to stabilize global economy

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WASHINGTON, April 14. /TASS/. The Group of Seven (G7) is ready to undertake further urgent measures aimed at stabilizing the global economy in conditions of the crisis caused by the new coronavirus spread, according to the statement released on Tuesday by the US Treasury Department.

"Consistent with direction from G7 Leaders, Finance Ministers and Central Bank Governors met virtually on April 14 to reaffirm our close coordination to fight the pandemic and mitigate its impacts, including by enacting wide-ranging health, economic, and financial stability measures in our respective countries. Ministers and Governors reiterated their pledge to do whatever is necessary to restore economic growth and protect jobs, businesses, and the resilience of the financial system," the statement says.

The statement notes that "the scale of this health crisis is generating unprecedented challenges for the global economy." G7 Finance Ministers and heads of central banks "remain committed to use all available policy tools to achieve strong, sustainable, balanced, and inclusive growth."

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