By DPA
Tokyo : Financial leaders from seven of the world’s leading economies plan to discuss this weekend ways to ease concerns in global markets caused by the US subprime mortgage problems, Japanese Finance Minister Fukushiro Nukaga said Friday.
Nukaga, who is co-chair of the Group of Seven (G7) meeting, said he hoped to discuss with his counterparts Saturday in Tokyo how to enhance information disclosure by financial institutions and compensate for losses caused by the US home-loan problems.
“It is important that we work together and send a message to stabilise the financial markets and keep the global economy growing,” Nukaga said.
But the Japanese minister said each nation should independently try to provide for a recovery in its own economy rather than the G7 states taking concerted action.
At the Tokyo gathering, the finance ministers and central bank governors from Britain, Canada, France, Germany, Italy, Japan and the US were also expected to discuss growth of emerging economies, especially China and India.