G7 meeting of financial chiefs kicks off

Finance ministers and central bank chiefs from the Group of Seven nations have kicked off talks about some of the world's most pressing issues, including support for Ukraine and bank failures in the United States.

The three-day meeting of G7 financial leaders opened Thursday in the Japanese city of Niigata.

Japan is represented by Finance Minister Suzuki Shunichi and Bank of Japan Governor Ueda Kazuo.

Participants are discussing the impact of rising interest rates and US bank failures on financial markets and the global economy.

They are also expected to confirm a united stance on enforcing sanctions against Russia and unwavering support for Ukraine.
Officials from several other countries have been invited this time, including India, South Korea and the current African Union chair, Comoros.

The G7 is aiming to step up cooperation with developing and emerging nations, collectively known as the Global South.

Japanese Finance Minister Suzuki Shunichi told reporters ahead of the meeting, "We hope to further strengthen cooperation with our partner countries and advance discussions under Japan's chair. In addition to these urgent issues, we will discuss concrete measures to strengthen the global economy."

Japan, as chair, hopes the talks set the stage for the G7 leaders' summit to start on May 19 in Hiroshima.