German Finance Minister expects G20 to address international financial stability

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FILE PHOTO - German lower house of parliament Bundestag session

BERLIN – Finance chiefs from the Group of 20 major economies will address international financial stability at their meeting this week and reference to the issue can be expected in the final communique, German Finance Minister Christian Lindner said on Wednesday.

Indonesia is to host the meeting of G20 finance ministers and central bank governors on Thursday and Friday. Many participants, including Lindner, will only take part virtually due to the latest coronavirus wave.

“The issue of international financial stability will of course play a major role at the G20 meeting,” Lindner told reporters in Berlin. “Inflation and the reactions to it are particularly challenging for many low-income countries.”

“The topic ‘global macro’ is also one of the priorities of the German G7 presidency,” he added. “It is therefore expected that this will also be reflected in Friday’s final communique.”

Germany took over the rotating G7 presidency at the beginning of this year.

(Reporting by Christian Kraemer; Writing by Paul Carrel; Editing by Madeline Chambers)