G-7 ‘to examine economic risk, vow policy mix to spur growth’
TOKYO - Reuters
AFP photoLeaders from the Group of Seven advanced economies will examine potential risks to the global economy when they gather this week for their summit in western Japan, government sources told Reuters.
While the global economy was not at a critical stage, uncertainty was rising and the G-7 leaders were expected to promote a combination of monetary, fiscal and structural policies to spur growth in their communique, the sources, who were not authorized to speak to the media, said.
“Uncertainty is rising. We are going to (discuss) downside risks to the global economy,” one of the two sources told Reuters on condition of anonymity.
The G-7 groups Britain, Canada, France, Germany, Italy, Japan and the United States.
With Britain and Germany resisting calls for fiscal stimulus, Japanese Prime Minister Shinzo Abe is set to urge the G-7 leaders to adopt a flexible fiscal policy, taking into account each country’s own situation, the sources said.
The G-7 leaders were also expected to reaffirm their previous commitment to stability in the foreign exchange market, they said.