G7 Finance Ministers Meet

US Treasury Secretary John Snow hosted G7 Ministers and Central Bank Governors at a joint meeting today in Washington, D.C. The April 23-24 meeting of the ministers and governors coincides with the spring meeting of the International Monetary Fund and the World Bank, taking place April 23-25. He says the unifying theme of discussions was economic growth, and that the strengthening global recovery provided an "upbeat backdrop". (See link to G7 Statement below) The G7 includes Britain, Canada, France, Germany, Italy, Japan and the United States.

According to Secretary Snow, the United States is leading the global recovery, with growth having accelerated to 6.2 percent in the second half of 2003 – the fastest in almost 20 years – and with growth in the first quarter of this year expected to be in the 4 to 5 percent range. He said this last prediction is based on private sector estimates. The good news extended beyond the United States, with Japan and the United Kingdom reported to have