G7 powers to meet as oil prices take flight

0 Comments | AFP, April, 2006

WASHINGTON (AFP) — Finance ministers from the powerful G7 club of nations will tackle record-breaking oil prices and global currency rates at talks to be joined by China and crude producers here Friday.

The Group of Seven ministers and central bank chiefs will meet before the World Bank and the International Monetary Fund hold their annual spring meetings over the weekend.

Reforms to make the IMF more representative of emerging economies will figure on the G7 agenda for Britain, Canada, France, Germany, Italy, Japan and the United States.

And the ministers are expected to debate how the world's poorest countries can best spend billions of dollars being freed up in debt relief extended by the World Bank and IMF.

The latest G7 meeting comes as the...