Finance ministers and heads of central banks of the Group of Seven (G7) of major economies said that the global financial system is resilient, but need vigilance.
A joint statement issued, Saturday, after the meeting of finance ministers and central bank chiefs of the G7, which was held in the Japanese city of Niigata, said, “The global economy has shown resilience in the face of multiple shocks .. However, we must remain vigilant and remain flexible in our related policies in the face of growing uncertainty about the future of the global economy.
The approved document did not mention the problem of raising the debt ceiling in the United States and the possibility of default.
British finance minister Jeremy Hunt told Reuters at a separate event that G7 that ministers had open discussions about the challenges they face, including banking regulation.
"Suzuki also told a press conference the topic of the U.S. debt ceiling came up during the working dinner on the global economy although he declined to say what other ministers discussed about the issue," Reuters added.
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