Finance chiefs from the Group of Seven will meet Thursday for three-day talks in Niigata Prefecture, central Japan, as they aim to boost confidence in the banking sector, APA reports citing The Mainichi.
The gathering of the finance ministers and central bank governors comes at a precarious time for the global economy, as a series of U.S. regional bank failures have added to market jitters over aggressive monetary tightening by major central banks and created worries about a recession.
Japan, which holds the rotating G-7 presidency this year, is hoping that the group displays a united front in the face of challenges.
In a rare move, non-members Brazil, India, Indonesia, South Korea, Singapore and Comoro, the chair of the African Union, have been invited to join part of the G-7 meeting to discuss global challenges, including debt issues affecting low- and middle-income nations.
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