Group of Seven Finance Officials Say Global Economy Resilient

Group of Seven Finance Officials Say Global Economy Resilient
By VOA News 14 April 2007
G7 Central Bank Governors pose for a family photograph on the steps of US Treasury building in Washington, DC, 13 Apr 2007Top economic officials from the world's leading industrialized nations say they are confident the global economy will experience strong growth despite some risks.
Finance ministers and central bankers from the Group of Seven nations, or G-7, met in Washington Friday for the beginning of talks on global trade. The United States, Britain, Canada, France, Germany, Italy and Japan make up the group of wealthy nations.
A senior U.S. Treasury Department official says the G-7 will continue to rally support for free trade at the talks. U.S. Treasury Undersecretary Tim Adams says free trade is something world finance leaders need to not only promote during these talks, but every day.
Friday's meeting took place in advance of Saturday and Sunday sessions of the International Monetary Fund and World Bank also in Washington.
Adams said world finance officials will also discuss the Doha Round of world trade talks as well as foreign currency exchange, the impact of speculative capital flows on the global economy, and ways to fight money laundering, terrorist financing, and how to control other illegal activities.
A meeting this week in New Delhi of trade officials from six countries failed to reach an agreement on a stalled World Trade Organization deal.
The trade deal, known as the Doha Round of talks, is stalled by demands that rich nations cut their agricultural subsidies, and requests that poor nations further open their markets.Some information for this report was provided by AP and Reuters.