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"We recognize the need to intensify dialogue and actions to mitigate risks and build confidence," reads in the final communiqué of senior representatives of the global economy, also acknowledging the global trade as "the engine of growth, job creation and development."
L Finance ministers explained that economic risks in the short and medium term have increased, illustrating "vulnerabilities Increasing financial pressures, rising tensions With protectionism a major theme, finance ministers and central bank governors "reaffirmed" the conclusions of the Hamburg Summit last year, in a commitment to free trade, and emphasized that they "are working to strengthen the contribution of trade to their economies." [1 9659004] On exchange rate, another topic that generated the most friction, the G20 countries expressed their intention to "clearly communicate their macroeconomic and structural policy actions", and a commitment that their monetary policy "will continue to ensure stability. "
The Argentine Representation, which this year holds the annual presidency of the institution, defined the conference dialogue as" very raw and sincere ", and explained that in the country club there is "a lot of awareness" That the monetary policy of members such as the United States or the European Union (EU) can have negative consequences among the emerging.
In a press conference after the meeting, US Treasury Secretary, Steve Mnuchin, said that he supports "the idea that trade is" Mnuchin said the text had was the easiest to agree on all the G20 meetings in which he participated during the year, "he added, and average taking in the position.
L & # American was opposed to warnings that reached in the IMF meeting on the negative effects of protectionism, and stated that they do not see "any significant impact" in the economy of
. he has minimized the customs duties already adopted by his government and considered that it was "very specific" measures.
On the other hand, the European Commissioner 07] Finances, Pierre Moscovici, cautioned against the "slowing down" of growth due to this trend. in the United States and the "risk of escalation" between the blocks.
And, although he specified that "In response to possible US tariffs, he said that the" logical "thing would be that the North American country and the European group act as" allies "and proposed a reform of the World Trade Organization (WTO).
In the same line, the Spanish Minister of Economy, Nadia Calviño, defended the role of trade as a" opportunity ", and not as a" threat ".
" Risks of trade tensions were present In the debate and Spain highlighted the transcendental role that foreign trade played in the exit of the crisis, "said Calviño.
Beyond trade, another issue incorporated in the final agreement was the commitment to" with continuing to use all the tools to support strong, sustainable growth, balanced and inclusive. "
On emerging economies, ministers present stressed that while many of them" are now better prepared to adapt to changing conditions "They still face challenges such as volatility of markets and inversion of capital flows. "
The G20 has designated infrastructure as one of the "pillars" of growth and development, and "welcome" to a roadmap that places it as an "badet clbad" Which helps to generate projects that are "attractive to private investors".
The financiers also called for ensuring that the benefits of technology transformation are "widely shared", and guaranteed that "they will meet the challenges I am generating on individuals, businesses and governments. " [19659004] The G20 consensus predicts that, although technological innovations provide economic benefits, cryptoactives pose problems of consumer and investor protection, tax evasion, money laundering or financing. terrorism.
Therefore, although ministers believe that cryptoactives "currently pose no risk" for financial stability, they said that "stay alert". EFE
jcam / rgm / laa
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