G20 financial leaders said the global economy was likely heading for a “soft landing” but warned that wars and escalating conflicts could jeopardise that outlook. This is stated in a joint communique after a two-day meeting in Brazil, Reuters reports.
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“We are encouraged by the growing likelihood of a soft landing for the global economy, although numerous challenges remain. Risks include wars and escalation of conflicts,” the joint communiqué said.
G20 finance ministers and central bank governors pledged to counter trade protectionism and stressed the need to reduce economic inequality.
