The global economy is on track for another year of bumper
growth, finance ministers of the Group of Eight (G8) countries
meeting in Berlin said in a communiqué.
growth remains robust and it is more balanced across regions
and within our countries," said a communique published
at the end of a two-day meeting at a lakeside hotel near
meeting was to prepare a June 6-8 summit of leaders from
the G8 - the United States, Japan, Germany, Britain, France,
Italy, Canada and Russia.
for the outlook have abated, but high and volatile energy
prices remain a concern and we will remain vigilant,"
they said even as Germany strove to keep its proposals
for tighter hedge fund control alive.
including the United States, Britain and Japan, Canada,
are keen to avoid any moves to establish formal regulation
of the hedge fund industry, which has boomed under loose
rules in recent years as investors seek better profits.
G8 members like France and Italy have voiced no clear
support either for the campaign Germany is waging during
its year-long presidency this year of the G7 and G8 clubs,
the latter of which includes Russia.
treasury secretary Henry Paulson stayed in Washington
to prepare talks with China, highlighting the limits of
the G8 as a form of global economic government.
new French government sent no minister either.
meeting called ministers from Cameroon, Ghana, Nigeria,
Mozambique and South Africa to a dinner as part of the
Oxfam charity, meanwhile, accused G8 leaders of failing
to fulfil promises made in 2005 to raise aid flows to
Africa by $50 billion a year.