Group of Seven finance ministers meeting in France this week will make it one of their priorities to contain the risks posed by new currencies such as Facebook’s Libra
French President Emmanuel Macron, the host of this weekend’s Group of Seven summit, has publicly expressed hope that the G-7 leaders will reaffirm a shared commitment to democratic ideals and multilateral cooperation in an era of political and economic turmoil. That’s probably wishful thinking.
In a move that could raise hundreds of billions of dollars to help governments cope with the aftermath of COVID-19, the Group of Seven (G7) large advanced economies agreed to back a minimum global corporate tax rate of at least 15%.
The upcoming G7 Summit in Cornwall, UK from June 11 to 13 is perhaps the first international event, in the backdrop of the continuing Covid pandemic, when the leaders from the worlds wealthiest countries — the US, Japan, Germany, the UK, France, Italy and Canada — will be meeting
Finance ministers and central bank governors of the United States, Japan, Canada, Britain, Germany, France and Italy — the G7 — will hold talks as Ukraine, invaded by Russia on Feb. 24, is struggling to fend off the attack.
At the end of their two-day meeting at Petersberg in Germany, the G7 finance ministers issued a communique, which expresses concern over the ever-rising inflation in the developed economies and the efforts to anchor inflation expectations
The aim of the price cap on oil exports was to "stop an important source of financing for the war of aggression and contain the rise in global energy prices," German's finance minister said.
The Group of 20 meeting on Thursday under the shadow of multiple crises, from Russia’s war in Ukraine to a global economic slowdown, on top of soaring inflation and climate change is the right step to address most-threatening issue the world is facing in present times (“G20 to meet under Ukraine war, inflation cloud,” Oct. 13, Gulf Today website).