RIO DE JANEIRO: G20 financial chiefs have said the global economy was likely heading for a “soft landing,” but also warned conflicts and escalating wars could endanger this outlook, while more international cooperation could make growth stronger.
In a joint statement following a two-day meeting in Brazil, Ministers for Finance and central bankers from the Group of 20 major countries also vowed to resist protectionism in trade and emphasized the need to decrease economic inequalities.
Earlier, the World Bank predicts that the international economy would avoid a third consecutive decrease in growth since 2021 but also warned that overall result would remain well below pre-pandemic levels through 2026.
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According to media reports, the US sees no need to hold talks on global deal on taxing the super-wealthy, US Treasury Secretary Janet Yellen said, showing divisions on a plan that is top of the agenda at a meeting in Rio de Janeiro.
Taxing the ultra-rich is a key priority of Brazil’s president Luiz Inacio Lula da Silva, who this year heads the G20 grouping of the world’s major economies, the African Union and European Union.
