Finance chiefs of the Group of 20 major economies on Friday affirmed the need to take "timely" policy action to better cope with downside risks in the global economy, Bank of Japan Gov. Haruhiko Kuroda said.
Speaking after a two-day meeting in Washington, Kuroda said each G20 nation "needs to ensure it will take steps to mitigate risks, not to heighten them," citing such policy uncertainties as an escalation in trade tensions between the United States and China, as well as a deterioration in corporate sentiment.
While the G20 broadly agreed the global economy is likely to rebound in the second half of this year from a slowdown that began in the latter half of 2018, Kuroda said, "We shared the recognition that each country needs to take timely policy action depending on their own circumstances."