G7 Warns of Economic Outlook Amid Looming US Debt Crisis

G7 finance leaders have issued a warning about increasing economic uncertainty at the end of a three-day meeting in Niigata, Japan. The gathering was marked by concerns about the U.S. debt stalemate and fallout from Russia’s invasion of Ukraine. Policymakers are now grappling with the potential default by the world’s largest economy, which has hit markets as borrowing costs have risen. Although the communique made no mention of the U.S. debt ceiling stalemate, it was discussed extensively during the meeting.

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