World

G20 nations vow terror funding crackdown

The countries issued a joint statement condemning the 'scourge' of terrorism funding

Afp July 08, 2017

german chancellor angela merkel french president emmanuel macron l and russia 039 s president vladimir putin c pose for a picture prior to a meeting during the g20 summit in hamburg northern germany on july 8 2017 leaders of the world 039 s top economies gather from july 7 to 8 2017 in germany for likely the stormiest g20 summit in years with disagreements ranging from wars to climate change and global trade photo afp

German Chancellor Angela Merkel, French President Emmanuel Macron (L) and Russia's President Vladimir Putin (C) pose for a picture prior to a meeting during the G20 summit in Hamburg, northern Germany, on July 8, 2017. Leaders of the world's top economies gather from July 7 to 8, 2017 in Germany for likely the stormiest G20 summit in years, with disagreements ranging from wars to climate change and global trade. PHOTO: AFP

HAMBURG: The G20 group of major economies agreed Friday to redouble efforts to tackle the financing of extremist groups, in a rare point of agreement during a fractious summit in Germany.

The countries issued a joint statement condemning the 'scourge' of terrorism funding, and praised the work already undertaken to shut off sources of finance for illicit groups.

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"We underline our resolve to make the international financial system entirely hostile to terrorist financing and commit to deepening international cooperation and exchange of information," the statement said.

The G20 nations urged countries to support the work of the Financial Action Task Force (FATF), a 37-member international organisation that tackles terrorist financing.

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"We call on all member states to ensure that the FATF has the necessary resources and support to effectively fulfil its mandate. There should be no 'safe spaces' for terrorist financing anywhere in the world," they said.

A growing rift between the United States and other nations over trade and climate change has turned this year's G20 summit - a normally ripple-free event in the diplomatic calendar - into one of the stormiest in the forum's history.