Business

G7 nations pledge to work together 'for as long as necessary' in coronavirus battle

G7 finance ministers and central bank governors on Tuesday pledged to expand fiscal and monetary actions for as long as necessary to restore growth and confidence battered by the coronavirus.

Group of wealthy and powerful nations says it will help vulnerable countries

G7 leaders issued a statement Tuesday indicating that they pledge to work together in the global battle against the coronavirus. (Christian Hartmann/Reuters)

A statement from G7 finance ministers and central bankers says the group will do "whatever is necessary" to restore economic confidence and protect jobs and businesses during the COVID-19 pandemic.

The nations, representing seven of the world's leading economies, are also asking other countries to do the same.

Among the nations is Canada, represented by Finance Minister Bill Morneau and the Bank of Canada.

The statement says countries affected by COVID-19 should expand their budget spending and support to financial institutions to mitigate the negative shock from the pandemic — and do so for as long as possible.

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