G-20 finance chiefs express economic optimism, urge resistance to protectionism

IMF Managing Director Kristalina Georgieva holds a press briefing during the International Monetary Fund and the World Bank Group 2024 Fall Meeting in Washington, US, Oct 24, 2024.WASHINGTON — Finance chiefs from the G-20 expressed optimism for achieving a "soft landing" for the global economy and urged resistance to protectionism, according to a final communique released on Thursday that retained the key points of a draft document.

"We observe good prospects of a soft landing of the global economy, although multiple challenges remain," according to the joint statement issued at the conclusion of the G-20 finance ministers meeting on the sidelines of the annual meetings of the International Monetary Fund and World Bank in Washington.

A separate chair's statement issued by Brazil, which holds the G-20 presidency this year, said however that members had differing views on whether the conflicts should be discussed within the group. "Some members and other participants considered that these issues have an impact on the global economy and should be treated in the G-20, while others do not believe that the G-20 is a forum to discuss these issues," the four-paragraph statement said.

It added that Brazil would conduct discussions on the conflicts among G-20 "sherpa" officials in preparation for a G-20 leaders summit in Rio de Janeiro in November.

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