20 May 2004 03:33
Finance ministers from the Group of Eight countries will discuss rising oil prices, China`s inflationary pressure
and other issues at their weekend meeting in New York, a senior U.S. Treasury Department official said
Thursday.
"Most likely they will be discussing the importance of taking actions to reduce prices from the supply side, and
of course hoping there will be some adjustment of production by OPEC," Treasury Undersecretary for International
Affairs John Taylor told reporters.
Finance ministers from Britain, Canada, France, Germany, Italy, Japan, Russia and the United States will gather in
New York on Saturday and Sunday prior to the G-8 summit in Sea Island, on June 8-10.
As part of discussions on the global economic outlook, the G-8 ministers will also discuss China's dollar-fixed
exchange rate system and growing inflationary pressure there, Taylor said.
Also high on the agenda will be a reform of international financial institutions, such as the International Monetary
Fund and the World Bank, support for reforms in the Middle East and ways to reduce the cost of worker remittance to poor
countries, he said.
[Kyodo News Service] |
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