LONDON, (Reuters) – Rishi Sunak from Britain’s finance ministry said that on Wednesday the Group of Seven riches nations needed to work more closely together in order to combat supply chain disruption, which is hindering the recovery of the economy following the COVID-19 epidemic.

Sunak will be meeting with other finance ministers this week in Washington, as part of the annual meetings at the International Monetary Fund (IMF) and the World Bank.

In a statement, he stated “Global cooperation” as a key element to solving our common problems when we overcome the pandemic.

“From global tax reforms to global supply chain, we have to work together to search international solutions to the benefit of our residents at home.”

The IMF issued a warning Tuesday about supply-chain bottlenecks. These include delays at ports, shortages and key components, such as microchips that are used in the production of cars. They also delay recovery and contribute to inflation.

Britain was particularly hard hit by the additional effects of post-Brexit tariffs and stricter immigration laws.

Many British petrol stations ran out of fuel temporarily last month. There has been a pan-European rise in the prices, which led to a lack of carbon dioxide to be used for stuning farm animals before they are slaughtered.

Sunak intends to also encourage rich nations to send a portion of IMF’s $650 billion new allocation of its currency to the poorer countries in order to provide better healthcare and combat climate change.