G7 pledges to 'do whatever is necessary' to restore growthThe statement from the G7, pictured at their 2017 leaders summit, came as Wall Street stock rebounded on expectations the US Congress would approve massive stimulusWASHINGTON - G7 finance ministers and central bank chiefs on Tuesday vowed to "do whatever is necessary" to safeguard jobs and the economy from disruptions caused by the coronavirus pandemic. The officials said they are working cooperatively with "substantial and complementary packages" to help companies weather the impact. "We will do whatever is necessary to restore confidence and economic growth and to protect jobs, businesses, and the resilience of the financial system," the group said in a statement released in Washington. The statement came as Wall Street rebounded at the open, with the Dow Jones Industrial Average up 6.7 percent on expectations the US Congress would soon pass a trillion-dollar stimulus package. Last week, leaders of the G7 comprising Britain, Canada, France, Germany, Italy, Japan and the United States issued a similar statement vowing to protect economic growth, while warning the outbreak poses "major risks for the world economy."

Source: Bangkok Post March 24, 2020 14:47 UTC