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Finance Ministers of G20 nations warn of economic risk from Covid variants

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Venice: The global economic recovery is at risk from the rise of new coronavirus variants and poor access to vaccines in developing countries, finance ministers of the world's 20 largest economies warned on Saturday The G20 gathering in the Italian city of Venice - the ministers' first face-to-face talks since the start of the pandemic - also endorsed a move to stop multinationals shifting profits to low-tax havens.

That paves the way for G20 leaders to finalise a new global minimum corporate tax rate of 15% at a Rome summit in October, a move that could recoup hundreds of billions of dollars for public treasuries straining under the COVID-19 crisis.

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