Tags: geithner | g7 | meeting

Geithner: G7 Must Move Swiftly on Global Economy

Monday, 09 Feb 2009 12:19 PM

WASHINGTON – US Treasury Secretary Timothy Geithner urged finance ministers of the Group of Seven nations Monday to act "promptly to restore health to the global economy," a statement said.

The Treasury said Geithner spoke early Monday to "a collective group of G7 finance ministers via conference call" ahead of the upcoming gathering in Rome opening Friday.

"His outreach underscored the imperative of all countries acting promptly to restore health to the global economy and financial sectors," the statement said.

"He looks forward to further discussions on this topic with G7 ministers in Rome this weekend."

The statement offered no further details of any specific plans or proposals for the G7 meeting.

Geithner is to travel to Italy for the gathering of top finance officials including central bank governors, a meeting which normally plays a key role in economic coordination among the major industrialized nations.

The G7 in recent months has taken a back seat to the Group of 20, which includes the G7 as well as leading emerging economies such as China and Brazil.

Washington hosted the first G20 summit in November and a new G20 summit on the crisis is to be held in London in April.

The G7 groups the United States, Japan, Germany, France, Britain, Italy and Canada.

Geithner's office said he also spoke with his Chinese counterpart Vice Premier Wang Qishan for a second time in a week and agreed on a need for "strong cooperation" on economic matters.

In a phone conversation Sunday, "The two agreed that strong cooperation on macroeconomic, financial and regulatory matters was an essential part of the US relationship with China and that it was important to sustain close dialogue, particularly at this time of global financial turmoil," a Treasury statement said.

The two economic leaders had conversed a week earlier by phone and agreed on the need to continue high-level talks on economic issues.

The new administration has not explicitly said whether the twice-yearly US-China "Strategic Economic Dialogue" held under President George W. Bush's administration would be continued.

© 2009 Agence France Presse. All rights reserved.


Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Franc Surge Spoils Luxury-Watch Party as Swiss Costs Mount

Friday, 16 Jan 2015 09:25 AM

The Swiss National Bank spoiled the party for the country's luxury watchmakers just as they were preparing for some of t . . .

Israel Refuses to Share New Zealand Ambassador with Palestinians

Monday, 08 Sep 2014 07:09 AM

Israel is refusing to allow New Zealand's new foreign minister to present his credentials to President Reuven Rivlin sin . . .

Malaysia Airlines to Slash 6,000 Jobs in Survival Bid

Friday, 29 Aug 2014 06:51 AM

Malaysia Airlines will slash 6,000 jobs, trim its route network, and replace its CEO under plans announced Friday to sta . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved