As the widening epidemic stokes fears of a global recession, finance ministers and central bank governors of the G7 major economies will issue a statement after their conference call scheduled at 1200 GMT on Tuesday.
In the statement, G7 countries will
pledge to work together to mitigate the damage to their economies from the fast-spreading epidemic, one of the G7 officials told Reuters on condition of anonymity due to the sensitivity of the matter.
Another G7 source said G7 members would voice their determination for joint coordinated action, if needed, to limit the impact of the coronavirus on the global economy. Both sources said they would stop short of directly calling for concrete fiscal and monetary measures right now.
“We are still very much at the beginning of the outbreak. And it is not yet possible to predict how the epidemic will develop. So the impression is that it’s still too early for such a step,” said the second G7 source.
The news disappointed some investors who had hoped for more explicit measures of support by the major industrial powers.
- Reuters
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