G7 to mull economic gloom but joint action unlikely
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Any hopes for a global policy response to U.S. recession fears, global market turmoil and exchange rates will likely go unanswered when Group of Seven finance heads meet in Tokyo on Saturday.
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The G7 wealthy nations on Saturday predicted solid economic growth and subdued inflation this year while repeating currency declarations that some economists believe could limit the dollar's decline.
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G7 finance ministers are expected to discuss the apparent US slowdown when they meet in Singapore.
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LONDON, Feb 2 (IPS) - Bold new proposals for debt relief for the poorest  countries will be put to the test at the G7 finance ministers  summit in London this weekend.
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The group of 20, G20, finance leaders of the richest, most powerful and emerging economies have begun discussions on a range of financial issues, with the weak dollar officially off the agenda but expected to dominate the meeting.
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Finance ministers and central bank  chiefs from the world's 20 biggest economies voiced concern on  Saturday over sudden currency swings, venturing for the first  time into the territory of the more influential Group of Seven.
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Worried soaring oil prices could  hurt the best global prospects in years, finance chiefs from  wealthy nations met on Friday to try to work out what lay  behind the surge and how to buffer the economic expansion.
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Anyone hoping for an answer to when the weak dollar or the size of U.S. deficits will stabilize is likely to be disappointed at this year's World Economic Forum.
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Ministers from the Group of Seven leading economies meet to discuss the fallout from the global credit crunch.
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VIENNA, Austria -- The head of the International Monetary Fund on Tuesday predicted a "continued smooth ride" for the global economy, but cautioned there are signs of potential trouble ahead after several years of brisk growth.
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Europe and Japan voiced strong concern  on Saturday over the slumping dollar but the world's 20 biggest  economies, nearing the end of a two-day summit, looked divided  over what if anything to do about it.
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Global policy-makers may be starting to accept a weaker dollar as perhaps the only policy option left to correct the record US external deficits and keep the world&#39;s economic recovery on track, analysts say.
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The dollar crashed through key barriers  to a record low on the euro and a 7-month low on the yen on  Wednesday, as concern mounted a forthcoming G20 finance  ministers' meeting would do little to halt its slide.
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Business & money: Finance chiefs from the G7 warn the global economy will slow down as a result of US mortgage crisis
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The current recovery of the global economy is dampened by risks that could give rise to financial and exchange-rate instability and to a slowdown in growth, the United Nations Conference on Trade and Development (UNCTAD) warned Thursday.
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Europe's economic fundamentals remain sound but there is no room for complacency in the face of recent global financial turmoil, five key leaders said after a mini-summit in London Tuesday.
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World finance chiefs meeting in Washington this week will express satisfaction with a rebounding global economy, but also highlight risks from surging oil prices, turmoil in Iraq and other factors.