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G7 finance chiefs to warn of global uncertainty as US debt crisis looms

May 12, 2023

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Finance leaders of the Group of Seven (G7) rich nations warned of heightening global economic uncertainty on Saturday, as they wrapped up a three-day meet overshadowed by a U.S. debt ceiling stalemate and fallout from Russia’s invasion of Ukraine.

Their gathering in the Japanese city of Niigata came as worries over a U.S. default fuelled uncertainty over the global outlook, already clouded by stubbornly high inflation and U.S. bank failures.

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