The Group of Seven finance ministers and central bank governors gathering in Tokyo on Saturday will reaffirm their determination to ensure financial stability, according to a draft G7 statement obtained by Reuters.
We will continue to watch developments closely and remain committed to taking necessary action, individually and collectively, in order to secure stability and growth in our economies, the draft read.
Euro-area growth, though slowed to a more moderate pace recently, is projected to stay broadly in line with trend potential.
The Japanese economy is expected to get through some weaknesses seen recently, and return to a moderate growth path.
The G7 financial heads meet in Tokyo on Saturday to discuss the global economy amid U.S. recession fears, international market turmoil and exchange rate swings.
(Tokyo reporting team)