G7 unlikely to focus on yen weakness: Japan

G7 unlikely to focus on yen weakness: Japan
AFP
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First Published: Fri, Apr 06 2007. 11 16 AM IST
Updated: Fri, Apr 06 2007. 11 16 AM IST
Tokyo: Group of Seven finance chiefs are likely to discuss currencies at their meeting in Washington next week but will not focus on the weakness of the yen, Japanese Finance Minister Koji Omi said on 6 April.
“Discussion on exchange rates is likely to include the yen, the dollar, the euro and the yuan,” he said.
But finance ministers and central bank heads from the G7 industrialised nations “will not particularly focus on the yen” at their meeting on 13 April, Omi told reporters.
The G7 ministers opted for a relatively soft line on the sliding Japanese yen at their February meeting in Germany, despite European concerns about the currency’s weakness which hurts eurozone exporters.
Omi said the finance chiefs from Britain, Canada, France, Germany, Italy, Japan and the US will also discuss the health of the global economy and the future of the International Monetary Fund (IMF).
“We will focus on the outlook for the world economy including Japan, as well as IMF reforms and various other issues,” he said.
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First Published: Fri, Apr 06 2007. 11 16 AM IST
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