Tokyo
, Mar 2 (EFE).-
Japan
will host an international economic forum starting this month to study measures to tackle the volatility of financial markets, ahead of the G7 Summit, which the country will host in May, announced the Japanese government.
"I think the world economic situation will undoubtedly become the biggest theme of the Ise-Shima summit. To fulfil its responsibility as (the G-7) president (for this year),
Japan
will hold talks to analyze international finance and economy," said Japanese Prime Minister Shinzo Abe in statements collected by the local news agency Kyodo Wednesday.
The government has planned a round of six meetings with international economists and executive officials and representatives of the Japanese central bank, who will discuss possible concrete actions to alleviate feelings of uncertainty surrounding major global financial centers.
In particular, experts will assess the implementation of fiscal stimulus in major economies of the world, as a way to combat negative effects of the slowdown in
China
and other emerging countries and the fall in crude oil prices, Japanese official sources told Kyodo.
"We must closely watch developments in the world economy that has entered a new phase," said Abe in statements to the Japanese media Tuesday.
In the forum, whose dates are yet to be finalized, Abe, along with Ministers of Finance and Economy, Taro Aso and Noboteru Ishihara, Bank of Japan Governor, Haruhiko Kuroda and
U.S.
economist Joseph Stiglitz, winner of the prize Nobel Prize in Economics 2001, among others, are expected to participate.
It is also expected that the participants will adopt a joint declaration, to be discussed at the G7 Summit held on May 26-27 in Ise (central
Japan
).
This high-level meeting will be attended by leaders from
United Kingdom
,
Canada
,
France
,
Germany
,
Italy
and
the United States
, besides
Japan
, which currently holds the rotating presidency of the group of most industrialized countries in the world.
During the meeting of the G20 finance ministers in
Shanghai
last week - which includes the G7 group, European Union and other emerging countries- participants agreed to spur an economic growth that will help in moving beyond the international financial crisis.
The document adopted at the G20 conclusion emphasizes the need to use all monetary, fiscal and structural tools individually and collectively. EFE
ahg/sp/nb
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Source: Equities.com News
(March 1, 2016 - 2:10 PM EST)
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