Gist of statement issued by G-7 financial leaders.
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.