Finance ministers from the Group of Seven (G7) believe that while the world economy is growing faster than expected, the recovery remains “fragile.”
The ministers from the G7 rich countries said in a joint statement over the weekend that “there is no room for complacency since the prospects for growth remain fragile and labour market conditions are not yet improving.”
The G7 backed urgings by the International Monetary Fund for governments to keep stimulus measures in place until the recovery has been firmly established.
The IMF also warned that rising unemployment remains one of the key threats to growth next year, a view backed up by the G7 ministers.
Elsewhere in the joint statement, the finance ministers reiterated their view that they will “continue to monitor exchange rates closely and cooperate as appropriate.”