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IMF's Georgieva says G20 should synchronize investments to achieve faster growth

·1-min read
Paris Peace Forum at Elysee Palace in Paris
Paris Peace Forum at Elysee Palace in Paris

(Reuters) - International Monetary Fund Managing Director Kristalina Georgieva on Thursday called on G20 countries to synchronize their investments to rebuild from the coronavirus pandemic, saying this would achieve a stronger growth outcome at less cost.

Speaking at the Paris Peace Forum a day before G20 finance leaders hold a virtual meeting on Friday, Georgieva said countries needed to take advantage of idle investment capacity, available fiscal space and very low interest rates to boost jobs and growth and reduce economic inequality.

"If the G 20 countries, move together, invest together at the same time...They would spend a third less to achieve the same output goal," Georgieva said.

(Reporting by David Lawder; Editing by Chizu Nomiyama)