US debt standoff overshadows G7 finance leaders' meeting

NIIGATA, Japan: A standoff over raising the US debt ceiling overshadowed a meeting of Group of Seven finance leaders set to begin on Thursday , heightening US recession fears as central banks seek a soft landing for the global economy.

Treasury Secretary Janet Yellen was expected to face questions from her G7 counterparts, meeting in the Japanese city of Niigata, on how Washington intends to prevent turbulence in financial markets, already jittery after the recent failure of several US banks.is a headache for Japan, which is this year's G7 chair and the world's biggest holder of US debt.

Global economic risks, including stubbornly high inflation and the fallout from aggressive US and European interest rate increases will likely be among key topics of debate for the G7 finance ministers and central bankers. China's consumer prices rose at the slowest pace in more than two years in April, while factory gate deflation deepened, data showed on Thursday, dashing policymakers' hopes that a rebound in the country's demand would underpin global growth.

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DPM Wong to visit Japan for G7 meeting of finance ministers, central bank governorsSINGAPORE: Deputy Prime Minister and Finance Minister Lawrence Wong will visit Niigata, Japan, from Thursday (May 11) to Saturday to attend the Group of Seven (G7) Finance Ministers and Central Bank Governors' M
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US debt standoff overshadows G7 finance leaders' meetingNIIGATA, Japan : A standoff over raising the U.S. debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders set to begin on Thursday, heightening U.S. recession fears as central banks seek a soft landing for the global economy.President Joe Biden piled pressure on Republican lawmakers on
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