G20 finance chiefs also removed from their statement a pledge to finance the fight against climate change, an anticipated outcome after Donald Trump called global warming a “hoax”. Photo: ReutersValletta: European Union finance ministers admitted on Saturday that the world’s 20 biggest economies (G20) will miss their target of generating additional economic growth through reforms by 2018 and called for reflection on why they have failed. G20 economies agreed in 2014 to boost growth in their economies by at least an additional 2% over 5 years through reforms, adding more than $2 trillion to the global economy and creating millions of jobs. At a meeting in March in the German town of Baden Baden, G20 finance ministers dropped a pledge to keep global trade free and open, yielding to an increasingly protectionist United States. G20 finance chiefs also removed from their statement a pledge to finance the fight against climate change, an anticipated outcome after Trump called global warming a “hoax”.

Source: Mint April 08, 2017 13:52 UTC