L’importance de la coordination des politiques économiques et financières soulignée

The importance of coordinating economic and financial policies underlined

G20 Summit in Johannesburg)

The G20 leaders underlined, the day before yesterday, Saturday, in Johannesburg (South Africa), the importance of coordinating economic and financial policies in order, indicated the final communiqué of the Summit, to maintain the stability of the world economy and to support the capacity of developing countries to cope with economic shocks and to strengthen their resilience. Calling, on occasion, for sustainable and quality investments in the energy, transport, health and education sectors, while supporting public-private partnerships and the financing of resilient infrastructure in the face of crises.

The G20 leaders, continued the same source, also called for the modernization of international financial institutions to strengthen their capacity to cope with global shocks, by supporting a multilateral system based on better coordination between international and regional institutions. Highlighting the need to implement the common debt treatment framework in a more rapid and effective manner, to support the review by the International Monetary Fund (IMF) and the World Bank of the debt sustainability framework in order to improve assessment tools, as well as to encourage the use of new financial instruments, such as debt-development swaps.
Regarding reducing the cost of financing for low-income African countries, the Summit’s final communiqué noted that many countries face very high borrowing costs, making it necessary to resort to concessional financing mechanisms and facilitate access to international liquidity. Reaffirming, in passing, the G20’s support for strong and sustainable global economic growth, as well as strengthening reforms of the international financial system to guarantee fairness and efficiency in financing and development, emphasizing the importance of international trade based on clear rules and flexible supply chains.

Highlighting the importance of developing supply chains and investing in critical minerals to support the energy transition, encouraging regional partnerships and leveraging value creation in producing countries, the Summit’s final communiqué emphasized the importance of strengthening countries’ disaster preparedness and encouraging investment to reduce them, while recognizing that poor countries cannot bear the costs of climate adaptation and disaster resilience alone.
Rabah M.