Sat, 17 Apr 2021 Today's Paper

Global growth tops agenda as G7 meeting kicks off in Japan

21 May 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

International Monetary Fund (IMF) Managing Director Christine Lagarde (C) walks past a lantern at a photo session of the G7 Finance Ministers and Central Bank Governors’ Meeting in the hot spring town in Sendai yesterday

AFP - Divisions over reigniting global growth were set to surface at the G7 in Japan yesterday, with US Treasury Secretary Jacob Lew expected to stand firm over any action threatening a currency war.


Two days of talks will see host Japan keen to win an endorsement for its position that fiscal stimulus is the way to kickstart the world economy, after a rally in the yen hit exporters and worsened a slowdown at home.
But Tokyo’s recent threat of a market intervention to reverse the rally could put it on a collision course with its G7 counterparts, including the United States and Germany which have ruled out such moves.


As well as Lew, who is joined at the high-level meetings by Federal Reserve chief Janet Yellen, French Finance Minister Michel Sapin has also waved off the idea of countries gaining a trade advantage by manipulating their own currencies. 


“Today we are in a cooperation phase, and not in an intervention or a currency war phase,” he told AFP. The G7 group -- also including Britain, Canada, and Italy -- will try to hammer out a strategy for keeping a global recession at bay. 
In April, the International Monetary Fund cut its forecast for world growth for the third time in less than a year, as a slowdown in China and other emerging economies raised fears that the worst was yet to come.

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




What is in a meme?

As fun as memes are, what do they mean for our mental health? An expert has a

Justice Delayed is Justice Denied!

Two years after the Easter Sunday carnage people are left with false hopes an

Cinematic links between director Lester and actor Gamini

Sinhala cinema’s pioneering director Lester James Peries is the Sri Lankan

Difficult to forgive Easter Sunday bombers: Brother of tourists killed in Sri Lanka

This year marks two years since the deadly Easter Sunday attacks in Sri Lanka

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.