G20 nations to use all policy tools to support growth

G20 finance leaders have reiterated their determination to use all available policy tools—including monetary, fiscal and structural—to foster economic confidence and support global growth.

Participants pose for a group photo during a meeting of G20 finance ministers and central bank governors in Chengdu, capital of southwest China's Sichuan Province, July 24, 2016. (Xinhua/Jiang Hongjing)

In a communique issued after the G20 Finance Ministers and Central Bank Governors’ Meeting in southwest China’s Chengdu, it said that the global economic environment continues to face challenges and downside risks persist. To gain confidence, monetary policies will continue to support economic activity and ensure price stability. Global financial leaders also reaffirmed their previous commitments on exchange rate.

In the communique, the G20 economies said that they would address the challenges of structural problems, including excess capacity in some industries.