Gist Of Statement Issued By G-7 Financial Chiefs
The following is the gist of the statement issued Saturday by the Group of Seven finance ministers and central bank governors after their two-day meeting here.
-- The G-7 reaffirms that exchange rates should reflect economic fundamentals and that excess volatility and disorderly movements in exchange rates are undesirable for economic growth.
-- In emerging economies with large and growing current account surpluses, especially China, it is desirable that their effective exchange rates move so that necessary adjustments will occur.
-- The G-7 says global growth is more balanced and member economies' performances remain favorable, with Japan's recovery on track.
-- Developing local currency bond markets deserves higher priority in order to reduce emerging countries' vulnerability to external shocks and financial crises and to promote growth.
-- Given the strong growth of the hedge fund industry and the instruments they trade, the G-7 needs to be vigilant.
-- The G-7 remains committed to resisting protectionist sentiment and fully supports the relaunch of the Doha Round of trade liberalization talks.
※ Source: 共同通信
The following is the gist of the statement issued Saturday by the Group of Seven finance ministers and central bank governors after their two-day meeting here.
-- The G-7 reaffirms that exchange rates should reflect economic fundamentals and that excess volatility and disorderly movements in exchange rates are undesirable for economic growth.
-- In emerging economies with large and growing current account surpluses, especially China, it is desirable that their effective exchange rates move so that necessary adjustments will occur.
-- The G-7 says global growth is more balanced and member economies' performances remain favorable, with Japan's recovery on track.
-- Developing local currency bond markets deserves higher priority in order to reduce emerging countries' vulnerability to external shocks and financial crises and to promote growth.
-- Given the strong growth of the hedge fund industry and the instruments they trade, the G-7 needs to be vigilant.
-- The G-7 remains committed to resisting protectionist sentiment and fully supports the relaunch of the Doha Round of trade liberalization talks.
※ Source: 共同通信