Russia-Ukraine war impact draws focus of G7 finance leaders

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Finance ministers for the Group of Seven leading economies on Thursday will deal with the immediate effects of Russia's war in Ukraine and the COVID-19 pandemic, overtaking their more ambitious plans to reform the global economy.

German Finance Minister Christian Lindner, the meeting's host, said he's hopeful the world's leading democracies can agree on further funding for Ukraine as it defends itself against Russia.

Food insecurity has been a major topic of discussion even before the meeting began. On Wednesday, thefacing an increasingly fragile world economy. The U.S., several global development banks and other groups collaborated on the effort. U.S. Treasury Secretary Janet Yellen said Wednesday that "the economic outlook globally is challenging and uncertain," and that "higher food and energy prices are having stagflationary effects, namely depressing output and spending and raising inflation all around the world."

 

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