The recent turbulence in the financial sector highlights the “uncertainty” of the current macroeconomic situation, marked by slowing global growth and persistent inflation, and calls for the need “to stay vigilant”, said G7 finance ministers and central bankers meeting on Wednesday 12 April on the sidelines of the IMF and World Bank spring meetings.
They say that the financial system, supported by regulators’ quick responses to stress and strengthened after the 2008 financial crisis, is “resilient”.
Ukraine. On Russian military aggression in Ukraine, the G7 countries reiterate their strong commitment to sanctions against the Kremlin and its allies and are actively working to limit their circumvention at both national and multilateral levels. They assure that they will take further “appropriate” measures. An eleventh package of sanctions is being prepared at EU level.
Energy. Ministers and central bankers also call for a diversification of supply chains for clean energy goods, notably to increase energy security and accelerate the decarbonisation of economies. They have committed to working together more closely in the use of public finance instruments to build these new supply chains, which they believe must include developing countries.
See the G7 countries’ statement: https://aeur.eu/f/6b1 (Original version in French by Mathieu Bion)