G7 leaders vow Global economic growth an ‘urgent priority’,express concerns on North Korea, China

Japan PM Brack Obama

Leaders of group seven countries in Japan  in final document set global growth as an urgent priority while expressed concern over North Korea, Russia and maritime disputes involving China as differences on currencies still persists .

 

A final  declaration at the G7 meeting in Japan also stated  a vote by the UK to leave the European Union would pose a “serious threat to global growth, investment and jobs.

The G7 leaders said in a joint declaration ,”We demand that North Korea immediately and fully comply with all relevant UN Security Council resolutions and its commitments under the 2005 Joint Statement of the Six-Party Talks, and not conduct any further nuclear tests, launches, or engage in any other destabilizing or provocative actions.”

 

“Global growth remains moderate and below potential, while risks of weak growth persist,” the G7 leaders said after a two-day summit in central Japan. “Global growth is our urgent priority.”

The G7 statement said: “We have strengthened the resilience of our economies in order to avoid falling into another crisis and, to this end, commit to reinforce our efforts to address the current economic situation by taking all appropriate policy responses in a timely manner.”

 

The 32-page declaration to market-based exchange rates and to avoiding “competitive devaluation” of their currencies, while warning against wild exchange-rate moves.

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