NIIGATA, Japan : Finance leaders of the Group of Seven advanced economies agreed to create a scheme to diversify global supply chains that will"contribute to safeguarding energy security," according to a final draft of their communique seen by Reuters.
The G7 finance chiefs also called for the need to"remain vigilant, stay agile and flexible" in guiding policy amid heightened uncertainty about the global economic outlook, the draft showed.On banking-system woes, the draft communique said the financial system was"resilient" due to financial regulatory reforms implemented after the 2008 global financial crisis.
"We will address data, supervisory, and regulatory gaps in the banking system," the draft communique said. The G7 finance leaders, who gathered for a three-day meeting in the Japanese city of Niigata, will release the communique later on Saturday.
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