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G7 Finance Chiefs warn :
Global crisis far from over
Global Crisis
* IMF warns despite economic recovery
* Risk in unemployment-rise and weak Financial
sector
* Many economic risks remain
TURKEY: Finance chiefs on Saturday said the global economic
crisis was far from over as Ministers from the Group of Seven (G7)
leading rich economies met in Istanbul amid concern about the weak US
dollar.
“No way can we say that the crisis is over” because unemployment is
rising and the financial sector is weak, International Monetary Fund
managing director Dominique Strauss-Kahn said in a BBC World debate
ahead of the talks. French Finance Minister Christine Lagarde, who will
be at the G7 talks along with counterparts from Britain, Canada,
Germany, Italy, Japan and the United States, said: “I have my eyes
riveted on the unemployment rate.”
Russian Finance Minister Alexei Kudrin will also attend the meeting
and the talks will be the first for Japan’s new finance minister,
Hirohisa Fuji, seen as an experienced bureaucrat lacking in
international experience. The meeting in Turkey’s biggest city comes
after the United States — the world’s biggest economy — this week
reported higher than expected unemployment figures and a setback in the
recovery of its battered manufacturing sector. US President Barack Obama
on Friday said the job losses were “a sobering reminder that progress
comes in fits and starts.”
Istanbul, Sunday, AFP
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