The G-7 Finance Ministers and Central Bank Governors' Meeting opening session starts at the Toki Messe convention center in Niigata on Thursday. But the G7 group will likely scrutinize the situation ... and respond as needed," he said, adding that Japanese authorities were watching developments closely. The U.S. debt crisis is a headache for Japan, which is this year's G7 chair and the world's biggest holder of U.S. debt. The G7 finance chiefs meet at a time when aggressive U.S. and European monetary tightening begin to weigh on global growth and stoke fears of financial instability. Back then, the G7 finance leaders said in a statement that they were "committed to addressing the tensions stemming from the current challenges on our fiscal deficits, debt and growth."

Source: The Guardian May 12, 2023 04:50 UTC