G7 to up pres­sure on N Korea

Daily Dispatch - - World News -

GROUP of Seven fi­nance lead­ers agreed to co­op­er­ate in coun­ter­ing North Korean at­tempts to avert UN sanc­tions, a se­nior Ja­panese fi­nance min­istry of­fi­cial said on Thurs­day.

It is rare for G7 fi­nance lead­ers to dis­close they had met on the side­lines of a G20 gath­er­ing, which was a show of re­solve among ad­vanced economies to boost pres­sure on North Korea in the wake of its re­cent provo­ca­tions, Ja­pan’s vice fi­nance min­is­ter for in­ter­na­tional af­fairs Masat­sugu Asakawa said.

“The G7 agreed on the need to ap­ply max­i­mum eco­nomic pres­sure on North Korea by cut­ting its rev­enue source and pre­vent­ing it from abus­ing the global fi­nan­cial sys­tem,” Asakawa told re­porters af­ter at­tend­ing the G7 gath­er­ing.

“We agreed to strengthen co­op­er­a­tion, in­clud­ing steps to counter North Korean at­tempts to avert United Na­tions sanc­tions,” he said.

The UN Se­cu­rity Coun­cil voted unan­i­mously in Septem­ber to boost sanc­tions on North Korea, af­ter the coun­try con­ducted its sixth and largest nu­clear test that month.

It was the ninth Se­cu­rity Coun­cil sanc­tions res­o­lu­tion over North Korea’s bal­lis­tic mis­sile and nu­clear pro­grammes since 2006, high­light­ing the strug­gle faced to con­tain North Korea.

At the G20 meet­ing, Asakawa said Ja­pan ex­plained pre­mier Shinzo Abe’s pledge to keep up Tokyo’s ef­forts to re­store fis­cal health and achieve its bud­get­bal­ance tar­get.

The G20 meet­ing also dis­cussed prospects for global growth and po­ten­tial risks, in­clud­ing reper­cus­sions from an ex­pected steady with­drawal of mone­tary stim­u­lus mea­sures by the Fed­eral Re­serve and the Euro­pean Cen­tral Bank, Asakawa said. — Reuters

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