G-20 Finance, Central Bank Chiefs Start 2-Day Talks in Washington #JapanFinance

Washington, Oct. 23 (Jiji Press)–Finance ministers and central bank governors from the Group of 20 advanced and emerging economies began two-day talks in Washington on Wednesday amid growing uncertainty over the Chinese economy, the situations in Ukraine and the Middle East, and the U.S. presidential election.

From Japan, Finance Minister Katsunobu Kato, who took office earlier this month, and Bank of Japan Governor Kazuo Ueda are attending the meeting.

Speaking to reporters after the first day’s discussions, Kato cautioned against the yen’s weakening in recent days, saying that there seem to be “one-sided, rapid movements (in the currency market) at the moment.” However, he added that the G-20 officials are unlikely to discuss the matter this time.

On the first day, participants discussed reform of multilateral development banks and agreed on processes to strengthen support for low-income countries recovering from the COVID-19 pandemic and tackling climate change.

The G-20 officials are expected to discuss the global economy and policy responses and adopt a joint statement on the second day.

[Copyright The Jiji Press, Ltd.]