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Friday, October 17, 2025, 16:09 GMT+7

G-20 finance heads warn of emerging risks

WASHINGTON -- Finance ministers and central bank chiefs from the Group of 20 major economies warned of emerging downside risks to the global economy at their two-day meeting in Washington that ended on Thursday.

G-20 finance heads warn of emerging risks- Ảnh 1.

Bank of Japan Governor Kazuo Ueda (L) and Vice Finance Minister for International Affairs Atsushi Mimura (R) hold a press conference after a meeting of top financial officials from the G-20 major economies in Washington on October 16, 2025. Photo: Jiji Press

South Africa, the chair of the meeting, published a chair's summary after the finance chiefs failed to adopt a joint statement for the first time in two meetings.

The summary said that members "emphasized the importance of strengthening multilateral coordination to address existing and emerging risks to the global economy."

Factors such as trade tensions, disruptions to global supply chains, ongoing wars and conflicts "could raise risks to financial and price stability," the summary said.

Issues should be addressed through multilateral coordination "in a way that contributes to an open global economy and without compromising sustainable global growth," it added.

On the second day of the meeting, participants discussed the impact of U.S.-China trade frictions and financial regulatory reform on the global economy.

While many countries voiced worries over the economic outlook, the Japanese government expressed strong concern over China's tighter restrictions on rare earth exports.

Bank of Japan Governor Kazuo Ueda told a press conference after the meeting that the global economy has so far shown resilience, but continues to face high uncertainty and complex challenges.

Japanese Finance Minister Katsunobu Kato was absent from the meeting.

The G-20 economies also reaffirmed an April 2021 agreement which stressed that excessive foreign exchange rate fluctuations have adverse economic effects, warning against competitive devaluation.

"Central bank independence is crucial" to ensuring price stability, the chair's summary said, apparently in reference to U.S. President Donald Trump's attempts to intervene in the Federal Reserve.

The finance chiefs adopted the G-20 Ministerial Declaration on Debt Sustainability, calling for collaborative efforts to support developing countries.

It was the last in-person meeting of G-20 finance ministers and central bank chiefs to be chaired by South Africa.

The country's deputy finance minister, David Masondo, told a press conference after the meeting that the G-20 will play an important role in the stability of the international system.

The United States will assume the G-20 presidency for the year starting in December.

G-20 finance heads warn of emerging risks- Ảnh 3.

https://jen.jiji.com

 

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