SINGAPORE: G20 finance ministers have agreed on the need to coordinate fiscal and monetary policies to “ensure global economic stability” as countries head into a “perfect storm of multiple crises”, said Singapore Finance Minister Lawrence Wong on Thursday .
“We are meeting under extraordinary circumstances,” he said in a video published on his social media pages. “In many ways, we are heading into a perfect storm of multiple crises. Countries must also take into consideration other “burning longer-term issues” while dealing with the immediate crisis, he added. This includes strengthening the global public health system and tackling climate change.
“In these uncertain times, we cannot afford to take a country-by-country approach. We need much stronger multilateral cooperation, to recover together and to recover stronger.”
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