Their gathering in the Japanese city of Niigata came as worries over a US default fuelled uncertainty over the global outlook, already clouded by stubbornly high inflation and U.S. bank failures.
The communique made no mention of the U.S. debt ceiling stalemate, which hits markets at a time when borrowing costs are rising because of aggressive monetary tightening by U.S. and European central banks. On the banking troubles, the communique said policymakers would tackle"data, supervisory, and regulatory gaps in the banking system".
The grouping reiterated its condemnation of Russia's invasion of Ukraine and pledge to strengthen monitoring of cross-border transactions between Russia and other countries.
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G7 finance chiefs warn of global uncertainty as US debt crisis loomsG7 finance chiefs warn of global uncertainty as US debt crisis looms FMTNews FMTBusiness
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G7 finance chiefs move to diversify supply chains | The Malaysian InsightGroup hopes to launch partnership in collaboration with World Bank by year’s end.
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