(Excerpt)
(Monday, March 30, 2026, ９:55 pm to 10:09 pm)
[Opening remarks:]
- Minister)
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The G7 Finance Ministers’ Meeting was held online on March 9, with finance ministers, central bank governors, energy ministers and relevant international organizations in attendance.
As expected, we focused our discussions on the impact of the situation in the Middle East on energy markets, the global economy, and financial markets, and revised our outlook downward. All member countries and institutions, including the IMF, the World Bank, the OECD, and the FSB, were mindful of the issues related to inflation and inflation expectations, as well as their implications for growth rates.
Regarding the passage through the Strait of Hormuz, they also mentioned that, as usual, they had insurance arrangements in place, and their determination to resolve the situation was very strong. I will refrain from giving further details here.
Looking ahead, regarding the issue of potential vulnerabilities in financial markets, given that central bank governors and all relevant FSB members were present, they have repeatedly experienced various shocks over the years. While global financial markets have become stronger compared to those times, private credit and bonds are currently facing clearly unwarranted volatility. If these factors were to interact, the consequences would be very serious unless we maintain close coordination as a whole. There is a very important G7 meeting scheduled for mid-next month in Washington D.C., so we will be working toward that. Information exchange and close coordination among our partners are becoming increasingly important. We have absolutely confirmed that we will hold meetings as necessary; the April G7 meeting is already scheduled, but if something were to happen, we would likely convene more urgently.
