Author Topic: G7 finance chiefs discuss how to steer economies out of crisis  (Read 257 times)

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Offline libertybele

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G7 finance chiefs discuss how to steer economies out of crisis
« on: February 15, 2021, 01:38:35 am »

G7 finance chiefs discuss how to steer economies out of crisis

 Finance chiefs from rich countries discussed ways to steer the global economy out of its worst slump since the Great Depression and agreed on the need to solve a tax dispute that has become a test case for U.S. re-engagement under new president Joe Biden.

Britain, which is chairing the Group of Seven industrialised nations this year, said it had also called for more support for the most vulnerable countries during the coronavirus pandemic.

“Ministers and central bank governors exchanged views on how best to shape and respond to the phases of the global recovery from COVID-19, including supporting workers and businesses in dealing with the pandemic while ensuring sustainability in the long term,” the British finance ministry said.

Italian Economy Minister Roberto Gualtieri said the G7 had committed to continuing coordinated action to support the economy. “The withdrawal of policy support is premature,” he wrote on Twitter.

U.S. President Biden has proposed a further $1.9 trillion in spending and tax cuts on top of $4 trillion of coronavirus relief measures enacted by his predecessor Donald Trump.

British finance minister Rishi Sunak is expected to say next month that he will extend his economic rescue programmes and that fixing public finances will have to be addressed later.

Britain said G7 officials agreed that making progress on reaching “an international solution to the tax challenges of the digital economy” was a key priority.

Countries have been trying to revive attempts at a global approach to taxing giant digital firms, many of them American such as Amazon and Google, after progress was blocked by Trump’s administration.

Britain called on G7 countries to agree a joint approach to taxing internet giants by mid-2021, a deadline agreed by the wider Group of 20 nations.

Sunak stressed “the moral, health and economic case” for global vaccine distribution and said international financial institutions had to help vulnerable countries respond to the pandemic.

The G7 had been expected to back a new allocation of the International Monetary Fund’s own currency, known as special drawing rights, to help low-income countries hit by the coronavirus crisis.

Officials from the United States, the IMF’s biggest shareholder, had signalled they were open to a new issuance of $500 billion, sources said on Thursday – another shift in position by the Biden administration...........

https://www.oann.com/g7-finance-chiefs-discuss-how-to-steer-economies-out-of-crisis/
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline catfish1957

  • Laken Riley.... Say her Name. And to every past and future democrat voter- Her blood is on your hands too!!!
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Re: G7 finance chiefs discuss how to steer economies out of crisis
« Reply #1 on: February 15, 2021, 07:40:07 pm »
Seems we are on 7 man sprint of who can be socialist the soonest.   The idea of the IMF becoming the ATM for every poor country?...  UGH.
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline skeeter

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Re: G7 finance chiefs discuss how to steer economies out of crisis
« Reply #2 on: February 15, 2021, 07:58:45 pm »
An economy is the easiest organism to make healthy. You just gotta leave it alone.

Governments, on the other hand, steer economies off cliffs all the time.