WASHINGTON: Finance ministers and central bank chiefs from the Group of 20 major economies Friday reaffirmed their commitment to use all policy tools to address downside economic risks, amid fears of the new coronavirus spreading around the world.

"We reiterate our commitment to use all available policy tools to achieve strong, sustainable, balanced and inclusive growth, and safeguard against downside risks," the G20 officials said in a statement.

"We will continue to review our individual and coordinated actions in response to COVID-19," they said.

The G20 statement came as the coronavirus disease is continuing to spread, including in Europe and the United States, roiling global financial markets.

At a meeting in the Saudi capital of Riyadh late last month, the G20 finance ministers and central bank governors adopted a joint statement expressing concern about risks posed by the viral outbreak to financial markets and real economies and pledging to take necessary policy actions.

The latest statement on Friday indicated that the G20 is "ready to take further actions, including fiscal and monetary measures, as appropriate."

A similar statement was released by the Group of Seven finance ministers and central bank leaders following their telephone talks on Tuesday.

JIJI Press