WASHINGTON : Global finance ministers and central bankers pledged to use all their tools, including fiscal policy, to support demand amid a “highly uncertain" outlook and elevated risks. “We will employ all appropriate policy tools, individually and collectively, to mitigate risks, enhance resilience and shore up growth to benefit all." The downbeat statement caps a week during which the IMF made a fifth-straight cut to its 2019 global growth forecast, projecting the weakest expansion since 2009. Global finance leaders met against a backdrop of slowing growth in the world’s major economies and central banks grappling with limited room to support expansion. But the latest missive added a line saying that a “strong international trading system with well-enforced rules addressing current and future challenges would support global growth."

Source: Mint October 20, 2019 08:48 UTC