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G20 to show united front on support for global economic recovery, cash for IMF

Added 02-26-21 11:04:03am EST - “The world's financial leaders are expected on Friday to agree to continue supportive measures for the global economy and look to boost the International Monetary Fund's resources so it can help poorer countries fight off the effects…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “G20 to show united front on support for global economic recovery, cash for IMF”. Below is an excerpt from the article.

BERLIN/WASHINGTON/ROME (Reuters) - The world's financial leaders are expected on Friday to agree to continue supportive measures for the global economy and look to boost the International Monetary Fund's resources so it can help poorer countries fight off the effects of the pandemic.

Finance ministers and central bank governors of the world's top 20 economies, called the G20, held a video-conference on Friday. The global response to the economic havoc wreaked by the coronavirus was at top of the agenda.

In the first comments by a participating policymaker, the European Union's economics commissioner Paolo Gentiloni said the meeting had been "good", with consensus on the need for a common effort on global COVID vaccinations.

"Avoid premature withdrawal of supportive fiscal policy" and "progress towards agreement on digital and minimal taxation" he said in a Tweet, signalling other areas of apparent accord.

The meeting comes as the United States is readying $1.9 trillion in fiscal stimulus and the European Union has already put together more than 3 trillion euros ($3.63 trillion) to keep its economies going despite COVID-19 lockdowns.

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