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The Latest Breaking News from G7

G7 offers $9.5 billion new aid for Ukraine, ready with more

The Group of Seven's financial leaders agreed on $9.5 billion in new aid to Ukraine on Friday and promised enough money to keep the country's devastated economy afloat as long as it fights against Russia's invasion.

Reuters

Sri Lanka defaults on debt as economic crisis deepens

Sri Lanka has defaulted on its international debt obligations, after the government confirmed it had not been able to make some $87 million in interest payments. It further deepens the country's economic crisis, which has sparked mass protests and left the country struggling with fuel shortages. Also in the show:…

France 24

G7 countries commit $18.4 billion in funds for Ukraine - draft

The Group of Seven (G7) industrialised nations have committed $18.4 billion in transfers and loans to help Ukraine meet its immediate financing needs, according to a draft communique seen by Reuters on Thursday.

Reuters

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IMF chief warns of multiple inflationary shocks amid market jitters

Kristalina Georgieva cites Russia’s war in Ukraine and cost pressures caused by China’s zero-Covid policies

The Guardian - UK

PM Modi to fly to Japan for Quad summit next week

PM will be meeting the American President, and the Prime Ministers of Japan and Australia

The Hindu

Germany pledges 1 billion euros in grants to help Ukraine - Finance Minister

German Finance Minister Christian Lindner said he pledged 1 billion euros ($1.06 billion) in grants to Ukraine at a meeting of finance officials from the Group of Seven (G7) economic powers on Thursday to help it with short-term liquidity needs.

Reuters

Russia-Ukraine war impact draws focus of G7 finance leaders

Finance ministers for the Group of Seven leading economies on Thursday will deal with the immediate effects of Russia’s war in Ukraine and the COVID-19 pandemic, overtaking their more ambitious plans to reform the global economy

The Independent UK

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G7 finance meeting set to be dominated by reconstruction of Ukraine

G7 finance ministers are meeting in Germany on how to help Ukraine pay its bills, with reconstruction after the war, surging global inflation, climate change, supply chains and the impending food crisis high on the agenda.

Radio France Internationale

G7 Finance Ministers to Thrash Out Ukraine Aid Plan

G7 partners meet Thursday hoping to find a solution for Kyiv's budget troubles as the fallout from Russia's invasion of Ukraine continues to roil the global economy. Finance ministers from the Group of Seven industrialized nations are holding talks in Koenigswinter in western Germany to coordinate their response. "The bilateral…

Asharq Al-Awsat

G7 agree on $18.4 billion to keep Ukraine running, ready with more

The Group of Seven's financial leaders agreed on Thursday on $18.4 billion to help Ukraine pay its bills in coming months and said they were ready to stand by Kyiv throughout its war with Russia and do more if needed, a draft communique showed.

Reuters

US Congress approves new $40 billion Ukraine aid package

The US Senate overwhelmingly approved a $40 billion infusion of military and economic aid for Ukraine and its allies on Thursday as both parties rallied behind America’s latest, and quite possibly not last, financial salvo against Russia’s invasion. Follow FRANCE 24’s liveblog for all the latest developments. All times are…

France 24

Why does the UK have the highest inflation in the G7?

Analysis: UK among hardest-hit countries thanks to perfect storm of war in Ukraine, Covid and Brexit

The Guardian - UK

EU plans 9 billion euros joint borrowing for Ukraine, more for reconstruction

The European Commission proposed on Wednesday an extra 9 billion euros ($9.5 billion) in EU loans to Ukraine in 2022 to keep the country running and to set up a 'RebuildUkraine' Facility of grants and loans, modelled on the EU's own recovery fund.

Reuters

US, banks unveil plan to ease food crisis from Russia's war

Ahead of the G7 finance ministers’ meetings, the U.S. Treasury, several global development banks and other groups have unveiled a multi-billion dollar plan meant to address a worldwide food security crisis exacerbated by Russia’s war in Ukraine

The Independent UK

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Evening Standard

More than 20,000 Russian troops killed in Putin’s invasion of Ukraine, says UK

More than 20,000 Russian military personnel have been killed in Vladimir Putin’s invasion of Ukraine, according to Britain’s armed forces minister.

Evening Standard

Russian assets could be used to rebuild Ukraine in G7 plan

America, Britain and other G7 allies are looking at how Russian assets can be used to rebuild Ukraine after the “appalling devastation” caused by Vladimir Putin’s invasion, Liz Truss said on Wednesday.

The Hindu

Morning Digest | SC orders protection of ‘Shivling’ area in Gyanvyapi mosque; G-7 nations likely to appeal to India to reverse ban on wheat exports, and more

A select list of stories to read before you start your day

Asharq Al-Awsat

G7: Resumption of Economic Support to Sudan Hinges on Restoration of Civilian-Led Govt

The G7 has urged the active politicians in Sudan to agree on key negotiation issues in order to restore civil rule. “We continue to call for a return to a civilian-led transition towards an inclusive democracy and peace after the military takeover on 25 October 2021. “Restoration of a credible…

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Reuters

Kremlin says G7 using Russia's reserves for Ukraine would be 'outright theft'

The Kremlin said on Tuesday it would be "outright theft" for the Group of Seven economic powers and European Union to seize Russia's frozen reserves and spend them on behalf of Ukraine.

Reuters

Moscow says G7 attempts to isolate Russia make global food crisis worse

Russia's foreign ministry said on Monday that attempts by the West and the G7 group of nations in particular to isolate Moscow have worsened global food shortages.

Al Jazeera

Ukrainian FM: ‘100% we will win, and Russia will be defeated’

Al Jazeera speaks to Ukrainian foreign minister Dmytro Kuleba on NATO, diplomacy and how he thinks the war will end.

The Guardian - AU

Factcheck: Scott Morrison says Australia is a world leader in Covid recovery. Is he right?

It wasn’t a race, the prime minister famously said, yet now he’s claiming the win. Here’s how the numbers –on jobs, vaccines and the economy – really stack up

WEKU

G7 warn of Ukraine grain crisis, ask China not to aid Russia

The Group of Seven leading economies warned Saturday that the war in Ukraine is stoking a global food and energy crisis which threatens poor countries.

Asharq Al-Awsat

G7 Urge Tehran to Bring Successful Conclusion To Nuclear Talks

The G7 group of nations urged on Saturday Iran to benefit from the current opportunity and facilitate the nuclear talks, which have been veering between success and failure for months now. “It is high time for Iran to seize the opportunity and bring negotiations which started in Vienna more than…

Asharq Al-Awsat

Fierce Fighting in Ukraine's East but Eurovision Win Lifts Spirits

Ukraine's forces were fighting off a fierce Russian onslaught on the east of the country Sunday, after a Eurovision victory gave the country a much-needed boost of morale. President Volodymr Zelensky warned on Saturday that the war in his country risked triggering global food shortages, adding that the situation in…

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