(Finance) – The G7 of Finance Ministers ended a Petersberg, in Germany, which also saw the participation of the Governors of the central banks together with the heads of the International Monetary Fund (IMF), the World Bank Group, the Organization for Economic Cooperation and Development (OECD) and the Stability Council financial (FSB). “We agreed on concrete actions to deepen multilateral economic cooperation and underlined our commitment to our joint response to the war of aggression of the Russia against theUkraine and for our unwavering support for Ukraine. ”The Prime Minister, Denys Shmihal, and the Ukrainian Finance Minister, Serhij Marcenko, also spoke via video link during the meeting.
The G7 of Finance he agreed to move “resolutely in taking substantial measures to stop inflation developments and sustain growth. Inflation poses a great risk to development”. This is what the German Finance Minister has made known, Christian Lindner, in the press conference of the presidency at the end of the meeting of ministers and central bankers. “Many have argued that thetarget must be to bring inflation back to around 2% as fast as possible “, he reported. On this” the national central banks are independent but they also have a great responsibility in these times “, he added, while” for fiscal policies it is clear that we must get out of the very expansionary phases, it is not the time to stimuli“and increases of subsidies“we must reduce the deficit and act on the vast spending programs“.
Lindner reiterated the support of the G7 countries for Ukraine. The theme of financing “must not represent a limit to their defense possibilities: they need to liquid assets and funds, because they must not be restricted in their defensive possibilities “, said the German minister.” As G7 we have decided to adopt a package with which we want to ensure that in the foreseeable future Ukraine will be able to act “, he announced.
In the meantime, the themes of the G7 Work which will take place in Wolfsburg on Monday 23 and Tuesday 24 May. The meeting of G7 labor ministers “Just Transition – Make it Work“- reads a note – will focus on the impact on work and employment policies of the conflict in Ukraine, strengthening employability in times of structural change, accompanying climate change and the green transition, the sustainability of value chains and the improvement of safety and health at work “.