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Ministers say G20 prepared for Brexit

dpadpa 24/07/2016

Members of the G20 say they are well positioned to address the economic fallout of the Brexit.

The fallout from Brexit will not be unsurmountable, the finance ministers and central bank chiefs of the Group of 20 leading economies (G20) say.

"Members of the G20 are well positioned to proactively address the potential economic and financial consequences stemming from the UK referendum," which voted on June 23 to leave the European Union, according to a statement issued after talks in Chengdu, 1,800km southwest of Beijing.

In a note of caution, the statement said "global economic recovery continues but remains weaker than desirable. Meanwhile, the benefits of growth need to be shared more broadly within and among countries to promote inclusiveness."

The statement said taxation policies should be improved worldwide to reflect globalisation and promote socially balanced, sustainable economic growth.

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