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Gist of statement issued by G-7 financial leaders.

SINGAPORE, Sept. 16 Kyodo

The following is the gist of a statement issued Saturday by finance ministers and central bank governors of the Group of Seven nations after their one-day meeting in Singapore.

-- The G-7 holds a positive global economic outlook, with the United States posting moderating growth, Europe seeing solid growth and Japan staging a broad-based recovery.

-- Emerging economies are broadly enjoying robust growth.

-- The G-7 will remain vigilant to downside risks such as tight and volatile energy markets and rising inflation expectations in some countries.

-- Volatile and disorderly movements are not desirable in exchange rates for economic growth.

-- Greater exchange rate flexibility is desirable in emerging economies, especially in China.

-- The G-7 renews its pledge to pursue sound policies and calls on others to meet shared responsibility for orderly adjustments of global imbalances.

-- The G-7 urges all parties to show the political will and flexibility to resume the stalled Doha Round trade liberalization talks under the World Trade Organization.

-- Fundamental reform is necessary for the International Monetary Fund to maintain its legitimacy and credibility.

-- The G-7 agrees to intensify efforts to combat money laundering, and as well as terrorist and illicit financing.
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Publication:Asian Economic News
Date:Sep 18, 2006
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