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France’s Economy, Finances and Industry Minister Roland Lescure and Governor of the Bank of France François Villeroy de Galhau on the sidelines of a G7 Finance Ministers and Central Bank Governors meeting, in Paris on May 19, 2026. [AFP]
France’s finance minister acknowledged Tuesday that two days of talks among leading global economies were “sometimes difficult”, even as the group agreed a statement committing to multilateral cooperation in combatting growing economic risks.
“We have had frank, sometimes difficult, direct discussions to find long-term and short-term solutions to major global economic challenges in order to guarantee economic stability,” Roland Lescure said after a meeting of G7 finance ministers, including US Treasury Secretary Scott Bessent.
But the final communique of the G7 ministers reaffirmed “our commitment to multilateral cooperation in addressing risks to the global economy”.
Against the background of the US-Israeli war, the statement said there were “multiple and complex global challenges requiring coordinated responses.”
“Economic uncertainty has heightened risks to growth and to inflation, amid the ongoing conflict in the Middle East,” it said.
The statement singled out “pressures on energy, food, and fertilisers supply chains, which particularly affect the most vulnerable countries.”
It urged a “swift return to free and safe transit” through the Strait of Hormuz, the key Gulf waterway where shipping remains severely restricted after Iran imposed an effective blockade at the start of the war.
The Paris meeting comes with France holding the rotating presidency of the G7, and prepares the ground for a summit in the French Alpine lakeside resort of Evian in June chaired by President Emmanuel Macron, which should be attended by President Donald Trump.
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France’s Economy, Finances and Industry Minister Roland Lescure and Governor of the Bank of France François Villeroy de Galhau on the sidelines of a G7 Finance Ministers and Central Bank Governors meeting, in Paris on May 19, 2026
. [AFP]
France’s finance minister acknowledged Tuesday that two days of talks among leading global economies were “sometimes difficult”, even as the group agreed a statement committing to multilateral cooperation in combatting growing economic risks.
“We have had frank, sometimes difficult, direct discussions to find long-term and short-term solutions to major global economic challenges in order to guarantee economic stability,” Roland Lescure said after a meeting of G7 finance ministers, including US Treasury Secretary Scott Bessent.
But the final communique of the G7 ministers reaffirmed “our commitment to multilateral cooperation in addressing risks to the global economy”.
Against the background of the US-Israeli war, the statement said there were “multiple and complex global challenges requiring coordinated responses.”
“Economic uncertainty has heightened risks to growth and to inflation, amid the ongoing conflict in the Middle East,” it said.
The statement singled out “pressures on energy, food, and fertilisers supply chains, which particularly affect the most vulnerable countries.”
It urged a “swift return to free and safe transit” through the Strait of Hormuz, the key Gulf waterway where shipping remains severely restricted after Iran imposed an effective blockade at the start of the war.
The Paris meeting comes with France holding the rotating presidency of the G7, and prepares the ground for a summit in the French Alpine lakeside resort of Evian in June chaired by President Emmanuel Macron, which should be attended by President Donald Trump.
By AFP