US' Mnuchin, Powell to lead G7 virus call as central banks prepare to act - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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G7 finance ministers and central bank governors will hold a conference call on Tuesday morning to discuss measures to deal with the widening coronavirus outbreak and its economic impact, a US Treasury spokesperson said on Monday.

The International Monetary Fund and the World Bank said on Monday they stand ready to help member countries deal with the coronavirus outbreak, including through emergency funding.

Bank of Japan Governor BOJ Governor Haruhiko Kuroda and European Central Bank President Christine Lagarde both issued statements echoing Powell’s pledge last week to “act as appropriate” to support the economy. The outbreak is plunging the world economy into its worst downturn since the global financial crisis more than 10 years ago, the Organisation for Economic Cooperation and Development warned on Monday, urging governments and central banks to fight back to avoid an even steeper slump.

The International Monetary Fund and the World Bank said on Monday they stand ready to help member countries deal with the coronavirus outbreak, including through emergency funding.

 

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