BADEN BADEN, Germany (Reuters) - Japanese Finance Minister Taro Aso said on Friday it was “very important” for the Group of 20 economies to reconfirm its warning that excess currency volatility was undesirable for economic stability.
“I told my G20 counterparts that while the global economy was recovering gradually, downside risks existed so it was important to reconfirm a G20 commitment to use all available tools, individually and collectively, to ensure economic stability,” Aso said.
Aso said he also told the G20 finance leaders that Japan was ready to mobilize monetary and fiscal policy tools to end deflation.
On global trade, Aso said he stressed the importance of having “free and fair rules” on global trade, which have brought prosperity to many economies.
Aso made the remarks to reporters after the first day of a two-day gathering of the Group of 20 finance leaders in Baden Baden, Germany.
Reporting by Leika Kihara; Editing by Chizu Nomiyama