G7 finance ministers tackle global economic challenges as Yellen seeks to reassure on debt standoff
The financial leaders of the Group of Seven wealthy nations are meeting in Japan as a standoff over the U.S. debt ceiling looms as one of the biggest potential threats to the global economy
By ELAINE KURTENBACH
Published - May 10, 2023, 11:21 PM ET
Last Updated - Aug 09, 2024, 03:29 AM EDT
NIIGATA, Japan (AP) — The financial leaders of the Group of Seven wealthy nations will meet in Japan beginning Thursday as a standoff over the U.S. debt ceiling looms as one of the biggest potential threats to the global economy.
Treasury Secretary Janet Yellen said one of her priorities in Niigata, a port city on the Japan Sea coast, would be to emphasize the importance of resolving the standoff over the national debt.
Yellen also is bound to be seeking to reassure her counterparts over recent bank failures that have raised worries over risks for the global financial system.
The finance ministers and central bank governors are meeting for three days ahead of a G-7 summit later this month in Hiroshima.
