By David Lawder and Andrea Shalal
WASHINGTON, Oct 13 (Reuters) – The finance chiefs of the G20 economies on Wednesday backed a global deal on corporate taxation and pledged to maintain fiscal support for their economies without losing sight of inflation.
Finance ministers and central bank governors of the G20 also said, in a statement issued after a meeting in Washington, that the International Monetary Fund should establish a new trust fund to channel an issue of $ 650 billion of monetary reserves from the G20. IMF to a greater number of vulnerable countries.
Finance officials said in their statement that the economic recovery “remains very diverse between and within countries” and is vulnerable to new variants of COVID-19 and an uneven rate of vaccination.
“We will continue to sustain the recovery, avoiding any premature withdrawal of support measures, while preserving financial stability and long-term fiscal sustainability, and safeguarding against downside risks and negative spillovers,” said finance leaders. of the G20 in the declaration.
Given mounting inflationary pressures from bottlenecks and shortages in the supply chain, the leaders said central banks are “closely monitoring current price dynamics.”
“They will act as necessary to fulfill their mandates, including price stability, while examining inflationary pressures when they are transitory and maintaining their commitment to clearly communicate monetary policy positions,” the G20 statement said.
(Reporting by David Lawder and Andrea Shalal; Additional reporting by Gavin Jones in Rome; Edited in Spanish by Javier López de Lérida)
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