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The Minister of Economy and Finance, Kim Dong-yeon, attended the meeting of G20 Finance Ministers and Central Bank Governors in Buenos Aires, Argentina, in stating: "If the risk factor becomes reality,
The meeting was attended by the finance ministers and governors of the central banks of the G20 host countries, the International Monetary Fund (IMF), the Bank World Bank (WB), Economic Cooperation
From November 30 to December 1, leaders of major international organizations, including the Organization for Economic Co-operation and Development (OECD) and the Financial Stability Committee (FSB)
The vice -Prime Minister Kim highlighted the risk factors of the global economy: "We expect the risk factors to be mixed,"
He also raised the possibility for countries to overestimate their ability to respond to crises, and said: "We can not afford to lose political capacity because of high public debt and low policy rates.
At the same time, member states called for "free, fair and equitable trade" in response to trade disputes.
On this day, member countries will discuss the international financial system,
Deputy Prime Minister Kim expressed his opinion on the international financial market stating: "The new crisis is developing in a new way So, how are risk factors developing and how will they affect the market? "The IMF and Regional Financial Arrangements (RDAs) need to work together in various areas to build a multi-level financial safety net," he said. he said.
In the meantime, the meeting is the last meeting of finance ministers to present a joint statement ahead of the November G20 summit, and the next meeting of G20 finance ministers and central bank governors will take place in Bali, Indonesia next October
(Source: Ministry of Strategy and Finance)
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