The G7 must increase its resilience to crises, says the OECD

According to the Organization of Economic Co-operation and Development, governments must work together.

The world's most developed G7 economies should strengthen their resilience to crises, the Organization for Economic Co-operation and Development (OECD) said. For example, they should increase the security of the international supply chains that supply the economy, the OECD wrote in a list of proposals published on Tuesday addressed to the British presidency of the G7. The OECD has previously stated that the world economy fell by 3.4% last year due to the corona crisis. It expects to expand by 5.6% this year. According to the OECD, governments must work together to ensure the reliable functioning of world markets, such as the supply of commodities, important minerals, lithium, important batteries, or rare earths. Governments should also set ambitious targets for combating climate change. The next G7 summit will take place in the UK in June.