Full Text of the G-7 Statement
February 6, 2005 1:28 p.m.
Following is the full text of a statement released by finance ministers and central bank governors from the Group of Seven major industrialized nations after their meeting in London on Feb. 5:
We are conscious of our responsibility to respond positively to the challenges and opportunities of the global economy. Recognising the need for greater and wider partnerships, we held an informal meeting with key global economies and continued our productive dialogue with the Chinese authorities.
Since our meeting in October the economic cycle has matured and global growth moderated, but is expected to remain robust for 2005.
Risks are balanced, though global imbalances remain. Inflationary pressures remain subdued. We recognise that each of our countries must play its part to support long-term sustainable global growth: key priorities are that the United States has committed to fiscal consolidation; Europe and Japan to further structural reform.
We agreed on the importance to global growth of an ambitious result at the Hong Kong World Trade Organization ministerial with a view to concluding the Doha Development Round, including financial services. We committed to provide support to build the infrastructure and capacity to enable developing countries to benefit from trade opportuni