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G-7Group of 7
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In the broad-ranging, 32-page declaration, the G-7 committed to market-based exchange rates and to avoiding "competitive devaluation" of their currencies, while warning against wild exchange-rate moves.
Noting that the G-7 statement released in February committed members to refrain from competitive currency devaluation, Aso said, "Understanding is spreading that each G-7 country is taking measures for its own economy.
The G-7 statement did not specifically address the decision by credit rating agency Standard & Poor's to lower the US credit rating a notch from AAA to AA+.
The G-7 changed its wording on the currency market in its joint statement for the first time in over four years, a Japanese official said.
A G-7 statement issued after the meeting said the new body will comprise "systemically significant economies" without mentioning the exact composition.
The agreement was secured following protracted negotiations between the German Presidency of the EU and the United States, Washington having argued that the European Union was already over-represented within the G-7.
At the summit of the G-7 and Russia in June, Russian President Boris Yeltsin proposed holding the energy ministerial talks.
I expect the G-7 nations to adopt 40 very specific recommendations to combat crime and terror, to increase our efforts to prevent terrorists from committing their crimes and our ability to track, catch and punish them when they do,'' Clinton said.
We are excited to be able to help The G-7 Report, Inc.
The residents of sectors G-7 demanded the Capital Development Authority (CDA) to take notice of the un-hygienic condition of the parks.
The dinner meeting of G-7 finance ministers and central bank governors came after the European Union said Greece's towering budget deficit in 2009 was bigger than anticipated and Moody's Investors Service downgraded its already battered debt.
The G-7 members and the six emerging nations -- Brazil, China, India, Mexico, Russia and South Africa -- are expected to discuss ways to nurture bond markets in emerging market economies, the German government said.