Ja­pan to launch global econ­omy panel be­fore G-7 Sum­mit

The Pak Banker - - FRONT PAGE -

Ja­panese Prime Min­is­ter Shinzo Abe said Tues­day he would es­tab­lish a new panel to dis­cuss grow­ing con­cerns about the global econ­omy in the runup to the Group of Seven sum­mit to be held in Ja­pan in late May. The panel, which will in­clude Abe him­self, Fi­nance Min­is­ter Taro Aso and Bank of Ja­pan Gov­er­nor Haruhiko Kuroda, will call in ex­pert econ­o­mists from Ja­pan and else­where to give their opin­ions on global sit­u­a­tion, ac­cord­ing to a state­ment re­leased on Tues­day.

"We must watch trends in the world econ­omy," Abe told re­porters at Ja­pan's Diet in Tokyo. "China's eco­nomic cli­mate, the price of oil and Amer­ica's in­ter­est rate hike lead to enor­mous fluc­tu­a­tion in global mar­kets." At a meet­ing of the Group of 20 economies in Shang­hai last month, global fi­nance chiefs com­mit­ted their gov­ern­ments to do­ing more to boost growth amid signs that mon­e­tary pol­icy may be reach­ing its lim­its. The panel will be held five times be­fore the G7 sum­mit, which will bring the lead­ers of the U.S., the U.K., Canada, France, Ger­many, Italy and the EU to the western Ja­panese pre­fec­ture of Mie on May 26-27.

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