NIIGATA, Japan :Finance leaders of the Group of Seven (G7) nations warned on Saturday of mounting economic uncertainty, in a subdued end to a three-day meeting overshadowed by concerns about the U.S. debt stalemate and fallout from Russia's invasion of Ukraine.The gathering in the Japanese city of Niigata cam
NIIGATA, Japan :Finance leaders of the Group of Seven nations warned on Saturday of mounting economic uncertainty, in a subdued end to a three-day meeting overshadowed by concerns about the U.S. debt stalemate and fallout from Russia's invasion of Ukraine.
"The global economy has shown resilience against multiple shocks, including the COVID-19 pandemic, Russia's war of aggression against Ukraine, and associated inflationary pressures," the finance ministers and central bankers said. G7 central bank chiefs vowed to combat"elevated" inflation and ensure expectations on future price moves remained well-anchored, a sign many of them will not let their guard down against stubbornly high inflation.
In the communique, the finance leaders set a year-end deadline for launching a new scheme to diversify global supply chains.
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