UK’s Sunak calls on G7 to work together on supply-chain difficulties

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LONDON, October 13 (Businesshala) – British Finance Minister Rishi Sunak said on Wednesday that the Group of Seven rich countries should work together to tackle the supply-chain disruptions that have hampered economic recovery from the COVID-19 pandemic Is.

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Sunak is meeting other finance ministers in Washington this week on the sidelines of the annual meetings of the International Monetary Fund and the World Bank.

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“Global cooperation is critical to addressing our shared challenges as we emerge from the pandemic,” he said in a statement ahead of the meetings.

“From global tax reform to global supply chains, we must work together to find international solutions that benefit our citizens at home.”

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The IMF warned on Tuesday that supply-chain constraints, including port delays and shortages of key components such as microchips used in car production, are delaying recovery and adding to inflationary pressures around the world.

Britain has been particularly hard hit by the additional impact of post-Brexit trade barriers and stricter immigration rules.

Several British petrol stations temporarily ran out of fuel last month, and a pan-European rise in natural gas prices has led to a shortage of carbon dioxide that is used to stun farm animals before slaughter. Is.

Sunak wants to encourage other rich countries to redirect their share of the IMF’s new $650 billion of their internal currency to poor countries to improve healthcare and respond to climate change.

Reporting by David Milliken Editing by William Schomberg

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