WASHINGTON: The Group of 20 major economies on Friday reiterated earlier pledges to refrain from using exchange rates for competitive advantage and warned of a possible shock to global growth if Britain left the European Union, Bloomberg News reported, citing a draft communique.

“We reaffirm our previous exchange-rate commitments, including that we will refrain from competitive devaluations and we will not target our exchange rates for competitive purposes,” Bloomberg quoted the draft communique as saying.

The G-20 leading economies moved a step closer toward ending the ability of tax evaders and money launderers to hide behind anonymous shell companies, according to a draft communique.

Acting in the wake of the “Panama Papers” scandal, G-20 finance ministers supported proposals requiring authorities to share the identities of the real owners of shell companies.

They also backed creating a blacklist of international tax havens which do not cooperate on information-sharing programs.

Making the beneficial owners of companies, trusts and foundations transparent “is vital to protect the integrity of the international financial system,” the draft G-20 communique said.

Doing so is important “to prevent misuse of these entities and arrangements for corruption, tax evasion, terrorist financing and money laundering.”

The group said it is “essential” for all countries to implement disclosure standards of the international Financial Action Task Force on shell companies.

“We particularly stress the importance of countries and jurisdictions improving the availability of beneficial ownership information to, and its international exchange between, competent authorities for purposes of tackling tax evasion, terrorist financing and money laundering,” they said.