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G7 finance ministers to discuss global economy, Ukraine at Banff summit

  • Finance officials and central bank leaders from the Group of Seven countries convened for a three-day summit beginning May 20, 2025, in Banff, Alberta, Canada.
  • The meeting was prompted by rising global trade tensions caused by U.S. Tariffs that raised fears of economic slowdown and inflation.
  • Officials discussed global economic stability, ongoing conflict in Ukraine, trade imbalances, and the need for fair and predictable trade rules.
  • Canada's Finance Minister François-Philippe Champagne described the current period as a pivotal time for the G7 nations and the global community, underscoring the importance of collective support for Ukraine.
  • The summit aimed to set expectations for the June G7 leaders' summit but did not resolve trade tensions during this finance meeting.
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National Observer broke the news in Canada on Tuesday, May 20, 2025.
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