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G7 Finance Ministers and Central Bank Chiefs Convene in Niigata, Japan

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Tokyo, May 11 – On Thursday, the heads of finance ministries and central banks of the Group of Seven countries began a three-day meeting in the Japanese city of Niigata, during which they are expected to discuss financial instability in the world, sanctions against Russia, and support measures. Ukraine.
Japan is represented by Finance Minister Shunichi Suzuki and Bank of Japan Governor Kazuo Ueda.
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Representatives of Brazil, India, Indonesia, South Korea, Singapore, the Union of the Comoros and the Chair of the African Union, as well as international organizations, in particular the World Bank and the International Monetary Fund, are also invited to the ministerial meeting. The meeting, according to Kyodo. As expected, they will have to join the participants of the “seven” in discussing global economic challenges and financial stability.
In addition, as part of the discussion of measures to support the Ukrainian economy, Finance Minister of Ukraine Serhiy Marchenko is expected to participate via video link.
Other topics for discussion will be economic security, ensuring uninterrupted supply chains and reducing dependence on China, challenges facing financial systems in the context of developing new technologies and social networks, failure of Western banks, and the risk of default on US federal debt. , debt obligations of developing countries, as well as measures to prevent circumvention of anti-Russian sanctions.
A joint statement is expected after the meeting.
In 2023, the G7 presidency will come from Japan. The G7 Leaders’ Summit will be held in Hiroshima from May 19 to 21.
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