November 1, 2024
G20 financial chiefs discuss aid for developing nations #JapanFinance

G20 financial chiefs discuss aid for developing nations #JapanFinance

CashNews.co

Financial chiefs of the Group of 20 nations have ended the first day of talks in the US capital … with the discussions so far focused on developing nations.

The G20 Finance Ministers and Central Bank Governors Meeting in Washington includes Japan Finance Minister Kato Katsunobu and Bank of Japan Governor Ueda Kazuo.

The two-day gathering opened on Wednesday. Initial discussions focused on how the World Bank and other institutions can help developing nations fight climate change.

The Communique from the previous meeting in July said global inflation was easing, increasing the likelihood of a soft landing for the world economy.

BOJ Governor Ueda spoke at a separate International Monetary Fund event the same day. He described the US economy’s mid-term prospects as uncertain, pointing to fluctuating US employment data.

He commented on Japan’s inflation target and said, “It is still taking time for us to get to 2 percent in a sustainable manner.”

He also said perceptions in Japan toward inflation are slowly shifting, given that the economy spent long years in a deflationary environment.

Leave a Reply

Your email address will not be published. Required fields are marked *