Global economy shows resilience against pandemic, Ukrainian conflict — G7
According to a joint statement, G7 “will continue to work closely with supervisory and regulatory authorities to monitor financial sector developments and stand ready to take appropriate actions to maintain financial stability and the resilience of the global financial system”.
The global economy has shown resilience against multiple shocks, including the coronavirus pandemic and the situation around Ukraine, according to a joint statement adopted on Saturday following the meeting of member states’ finance ministers and central bank governors in the Japanese city of Niigata.
“The global economy has shown resilience against multiple shocks including the COVID19 pandemic, Russia’s war of aggression against Ukraine, and associated inflationary pressures. Nevertheless, we need to remain vigilant and stay agile and flexible in our macroeconomic policy amid heightened uncertainty about the global economic outlook,” the statement reads.
“We will continue to work closely with supervisory and regulatory authorities to monitor financial sector developments and stand ready to take appropriate actions to maintain financial stability and the resilience of the global financial system,” G7 finance ministers and central bank governors pointed out.
Japan chairs G7 in 2023. By now the Japanese side has held a number of G7 ministerial meetings, including those attended by heads of foreign ministries as well as digitalization and technology ministers.
