May 14, 2017 7:52 AM

printer

Financial leaders of G-7 pledges cooperation against cybercrime

Financial leaders of seven leading world economies pledged stronger cooperation against cyber crime and not to use foreign exchange to gain competitive advantage. <br/><br/>But stuck to their cautious wording on trade, their final communique showed. Finance ministers and central bank governors from the United States, Canada, Japan, France, Germany, Italy and Britain met in the Italian city of Bari yesterday to discuss the world economy, combating terrorist funding, cyber security and taxes. <br/><br/>The final communique of the meeting said the seven countries would use all policy tools – fiscal, structural and monetary – to boost economic growth. It also said the G7 financial leaders would strengthen cooperation to counter cyber threats such as a global online attack which infected tens of thousands of computers in nearly 100 countries on Friday.<br/><br/>But unlike a G7 leaders' communique of 2016, the Bari meeting did not endorse free trade and reject protectionism, reflecting pressure from the United States where President Donald Trump has signaled his scepticism about free trade deals.<br/><br/><br/>

Most Read
View All arrow-right

No posts found.