G7 finance chiefs address global economic uncertainty as US debt crisis looms
IANS -
In a joint statement issued after their meeting in the Japanese city of Niigata, the G7 finance ministers and central bank governors said they "need to remain vigilant and stay agile and flexible in our macroeconomic policy amid heightened uncertainty about the global economic outlook."
EU, G7 impose price caps on Russian petroleum products
IANS -
The price cap for "premium-to-crude" petroleum products, such as diesel, kerosene and gasoline, is set at $100 per barrel, while the cap for "discount-to-crude" petroleum products, such as fuel oil and naphtha, is set at $45 per barrel, the EC was quoted by Xinhua news agency as saying .
Britain the only G7 economy forecast to shrink in 2023
IANS -
Adding to growing political pressure on UK Prime Minister Rishi Sunak after the sacking of the Conservative party chair Nadhim Zahawi, the Washington-based IMF warned on Tuesday it expected the UK economy to contract by 0.6 per cent this year - 0.9 percentage points worse than it had pencilled in just three months ago and slower even than sanctions-hit Russia, The Guardian reported.
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