G7 Nations to use all appropriate policy tools to prevent coronavirus

Top finance officials from the Group of Seven nations yesterday said, they would use all appropriate policy tools to prevent the new coronavirus outbreak from damaging economic growth, following the rout on global stock markets last week.

 

After a conference call of finance ministers and central bankers, the group said that G-7 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. It said G7 central banks will continue to fulfill their mandates, thus supporting price stability and economic growth while maintaining the resilience of the financial system.

The officials from the world's most advanced economies  Britain, Canada, France, Germany, Italy, Japan and the United States, however, did not announce any specific relief measures.