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The Latest Breaking News from G7

Yellen's global tax plan meets resistance abroad and at home

Last July, Treasury Secretary Janet Yellen celebrated it as a “historic day” when more than 100 nations agreed to a global minimum tax deal meant to reform and equalize the world’s economy

The Independent UK

G7 Countries to Provide $19.8 Billion in Aid to Ukraine

The Group of Seven leading economies agreed Friday to provide $19.8 billion in economic aid to Ukraine to help keep tight finances from hindering its ability to defend itself from Russia’s invasion. German Finance Minister Christian Lindner told reporters that $9.5 billion of the total amount was mobilized at meetings…

Asharq Al-Awsat

Japan, Europe tread different paths as G7 warns of inflation risks

Having long trod a similar path in tackling low inflation, Japan and Europe now appear to be taking contrasting approaches to monetary policy and the risks of rising prices, which drew warnings at this week's Group of Seven gathering in Germany.

Reuters

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Italy to lend Ukraine 200 million euros, Finance Minister says

Italy will lend Ukraine 200 million euros ($211 mln) to help it pay its bills, Italy's finance minister Daniele Franco said on Friday after a meeting of G7 financial leaders.

Reuters

Monkeypox cases in UK more than double

Health Secretary Sajid Javid has tweeted about the situation

Liverpool Echo

G7 mulling Russian asset seizures to help rebuild Ukraine - German Finance Minister

Seizing Russian state assets to help finance the rebuilding of war-torn Ukraine remains a possibility, German Finance Minister Christian Lindner said on Friday, but he added that no decision on the matter was taken at a meeting with his G7 counterparts.

Reuters

G7 agree pact to better prepare for future pandemics

The Group of Seven wealthy democracies has announced plans to strengthen epidemiological early-warning systems to detect infectious diseases with pandemic potential

The Independent UK

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UK monkeypox cases double with 11 new infections confirmed

Health Secretary says more doses of vaccine are available

Wales Online

Monkeypox: 20 cases now confirmed in the UK

Sajid Javid has updated G7 health ministers on what is known about the spread of the virus.

The Independent UK

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

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

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Reuters

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.

The Independent UK

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

Radio France Internationale

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.

Asharq Al-Awsat

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…

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Reuters

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.

France 24

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…

The Guardian - UK

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

Reuters

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.

The Independent UK

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

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.

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