The Group of Seven leaders has said that pumping up the world economy is an urgent priority. But wrapping up a two-day summit, in Ise-Shima, Japan, the G-7 left the door open for a go-your-own-way approach. The final communique also noted that growth remains moderate and below potential.
The summit reiterated the members’ commitments to using all policy tools, individually and collectively, to strengthen global demand and address supply constraints.
The G7 is an informal bloc of industrialized economies comprising the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom.