G-7 finance chiefs warn of global uncertainty as US debt crisis looms

Janet Yellen, US Treasury secretary, right, and Jeremy Hunt, UK finance minister, left, during a bilateral meeting on the sidelines of the Group of Seven (G-7) finance ministers and central bank governors meeting in Niigata, Japan, on Saturday, May 13, 2023.

Bloomberg | Bloomberg | Getty Images

Finance leaders of the Group of Seven (G-7) rich nations warned of heightening global economic uncertainty on Saturday as they wrapped up a three-day meeting overshadowed by a U.S. debt ceiling stalemate and fallout from Russia’s invasion of Ukraine.

G-7 central bank chiefs also vowed to combat “elevated” inflation and ensure expectations on future price moves remained well-anchored, a sign many of them will not let their guard down against stubbornly high inflation.

The gathering in the Japanese city of Niigata came as worries over a U.S. default fuelled uncertainty over the global outlook, already clouded by recent…

Read more…

Request a Call Back

Contact Info