Business + Finance

G7 vows growth efforts as Japan’s Abe warns of global crisis

The G7 committed to market-based exchange rates and to avoiding "competitive devaluation" of their currencies, while warning against wild exchange-rate moves.

The Group of Seven industrial powers pledged on Friday to seek strong global growth, while papering over differences on currencies and stimulus policies and expressing concern over North Korea, Russia and maritime disputes involving China.

G7 leaders wrapped up a summit in central Japan vowing to use “all policy tools” to boost demand and ease supply constraints.

“Global growth remains moderate and below potential, while risks of weak growth persist,” they said in a declaration. “Global growth is our urgent priority.”

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