Finance ministers and central bank governors from the G20 economies have ended their first day of discussions in Rio de Janeiro.
They agreed that the likelihood is rising of a soft landing for the global economy now that inflation in the United States is gradually easing.
But the officials were reportedly concerned that interest rates remain high in the US and Europe, which could lead to capital outflows and weaker currencies in other countries.
Japanese Vice Minister of Finance for International Affairs Kanda Masato said: “We are aware of many risks. So we will continue to monitor the economic situation with a sense of urgency. We will take appropriate measures if necessary.”
The officials discussed new rules for imposing taxes on IT giants that provide services across national borders.
The rules were agreed on in 2021. But finalizing the text has been delayed. Many of the officials in Rio de Janeiro apparently said the matter needs to be resolved at an early date.