URGENT: G-7 finance chiefs vow to ensure financial stability

Finance chiefs of the Group of Seven nations vowed Saturday to take appropriate action to ensure financial stability after a series of U.S. bank failures raised concern, asserting that the financial system remains resilient.

In a joint statement after their three-day meeting in Niigata, the G-7 finance ministers and central bank governors said they will continue to monitor financial sector developments with regulators.

The G-7 also said it will aim to launch efforts to build robust supply chains with developing nations by the end of the year, apparently with China in mind.

The finance chiefs reiterated their unwavering support for Ukraine and pledged to counter any attempts by Russia to circumvent sanctions imposed over its invasion.

© Kyodo News