May 20, 2016 / 11:43 AM / 2 years ago

US Treasury's Lew: G7 needs to discuss tools to address global risks

SENDAI, Japan, May 20 (Reuters) - Group of Seven finance leaders need to discuss global economic risks and what tools they have available to deal with them, U.S. Treasury Secretary Jack Lew said on Friday.

“The G7 is meeting at a critical time ... because there is a lot of uncertainty in the global economy,” he told reporters on the sidelines of a meeting of G7 finance leaders in Sendai, northeast Japan.

The Group of 20 meeting in Shanghai in February was successful because there was a renewed commitment to refrain from competitive currency devaluation and to communicate closely with each other “so we won’t surprise each other,” he said, expressing hope that the Sendai G7 meeting will produce equally effective results. (Reporting by Leika Kihara; Editing by Chris Gallagher)

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