G7 countries back IMF liquidity line

ANKARA

G7 block member countries support the International Monetary Fund's (IMF) liquidity line for emerging markets and developing countries, according to a statement issued after a virtual meeting on Tuesday.

Finance ministers and central bank governors of the G7 countries -- Canada, France, Germany, Italy, Japan, the U.K., and the U.S. -- said that they stand up for the measures taken by the IMF, World Bank Group, and regional development banks to enhance their toolkits to provide flexible and rapid financing in response to the coronavirus crisis.

The meeting reaffirmed the close coordination to fight the pandemic and mitigate its impacts, including by enacting wide-ranging health, economic, and financial stability measures.

Ministers and governors reiterated their pledge to do whatever is necessary to restore economic growth and protect jobs, businesses, and the resilience of the financial system.

Stating that the most vulnerable and poorest countries will face acute health and economic challenges related to the COVID-19 fallout, the meeting heard the support for multilateral efforts to assist these countries.