Readout of Five Finance Ministers Meeting in Washington DC
UK Chancellor Jeremy Hunt chaired a meeting of the “Five Finance Ministers” of Australia, Canada, New Zealand, the United Kingdom and the United States.
The meeting was hosted by Secretary Janet L. Yellen at the U.S. Department of the Treasury yesterday alongside the IMF and World Bank Spring Meetings.
Finance Ministers exchanged views on shared economic security priorities and the common economic risks and vulnerabilities faced by partners and the global economy from overconcentrated supply chains.
They discussed the importance of resilience building measures in mitigating the economic risks resulting from these challenges and underscored the role of Finance Ministers in increasing resilience, promoting stable global supply chains, and supporting global growth.
They also reaffirmed their commitment to continued cooperation to respond to joint economic challenges and looked forward to future meetings of the group deepening collaboration on these shared priorities.
Speaking after the meeting, Chancellor Jeremy Hunt said:
We must not be complacent. In light of the legacy of the pandemic and the instability from the current conflicts, the value of working together to tackle the economic risks we face and build our collective resilience cannot be ignored.