Transportation Industry
High Oil Prices Dominate G-7, IMF Meetings
Transport Topics, April, 2005 by Dunphy, Harry
Concern that rising oil prices could harm the global economy dominated gatherings of world finance ministers and central bankers, both meeting April 16 in Washington, D.C.
There were intense talks about the energy situation at both the meetings of the Group of Seven major industrialized countries and the policy-making committee of the 184-nation International Monetary Fund.
Statements by the G-7 - the United States, Britain, Canada, France, Germany, Italy and Japan - and by the IMF committee predicted global economic growth would remain robust in 2005, but at a slower pace.
Both statements said the continued rise in oil prices and oil market volatility posed a risk to economic growth.
"I think we recognize the volatility of oil prices, and particularly the...
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