01/10/2002 (Agence Europe) - G7 Finance Ministers stated at the end of their meeting on Friday in Washington that economic growth in their countries was continuing but a much more moderate level than earlier on in the year. The group of seven most industrialised countries in the world were only able to offer economic and financial operators a slim commitment: that of, "continuing with healthy economic policies and structural reforms…to work together in improving company transparency and accounting, as well as the strengthening the independence of auditors". The G7 was unable to reach an agreement on oil price references r recommendations in favour of a possible loosening of monetary policy. By way of its international monetary and financial committee, the IMF demonstrated that it was more determined and asserted that, "growth should get stronger in the immediate future, supported by a strong response by the authorities within the international community". IMF Director General, Horst Koehler, declared to the press that there was no reason to be "morose or depressed". Less worried about sensitivities, the IMF outlines a number of solutions, such as lowering interest rates. "Monetary policy should be the first line of defence, as long as inflation remains moderate", repeated Mr Koehler, who called on the USA to "fight against the resurgence of budgetary deficits".