MNI: G7 Statement from FinMins and Central Bankers - Text

     LONDON (MNI) - U.S. Treasury Secretary Steven T. Mnuchin and Federal

Reserve Chair Jerome H. Powell led a call with the G7 Finance Ministers and

Central Bank Governors to discuss the coronavirus disease 2019. At the

conclusion of their meeting, they issued the following joint statement:

     "We, G7 Finance Ministers and Central Bank Governors, are closely

monitoring the spread of the coronavirus disease 2019 (COVID-19) and its impact

on markets and economic conditions.

     Given the potential impacts of COVID-19 on global growth, we reaffirm our

commitment to use all appropriate policy tools to achieve strong, sustainable

growth and safeguard against downside risks. Alongside strengthening efforts to

expand health services, G7 finance ministers are ready to take actions,

including fiscal measures where appropriate, to aid in the response to the virus

and support the economy during this phase. G7 central banks will continue to

fulfill their mandates, thus supporting price stability and economic growth

while maintaining the resilience of the financial system.

     We welcome that the International Monetary Fund, the World Bank, and other

international financial institutions stand ready to help member countries

address the human tragedy and economic challenge posed by COVID-19 through the

use of their available instruments to the fullest extent possible.

     G7 Finance Ministers and Central Bank Governors stand ready to cooperate

further on timely and effective measures."

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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