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G-7 Pledges Greater Policy Cooperation as Risks Mount, Draft Communique Says

  • G-7 finance ministers, central bank chiefs meet in Washington
  • Draft statement notes increased volatility in exchange rates
A sign for the Group of Seven. 

A sign for the Group of Seven. 

Photographer: Liesa Johannssen-Koppitz/Bloomberg
Updated on

The Group of Seven aims to enhance policy cooperation in an effort to address a further slowdown in the global economic recovery as risks continue to mount, according to a draft communique.

The G-7 also pledged to preserve financial stability, and said it’s important for regulators to remain vigilant to guard against rising systemic risks as financial conditions tighten, according the draft, a copy of which was obtained by Bloomberg. The group also noted that policies to support sustainable economic recoveries will need to pay due consideration to country-specific circumstances.