Overview

• G7 finance ministers and central bankers issued a joint communique following meetings in Banff, Alberta, emphasizing unity despite prior divisions.
• The communique highlights a commitment to strengthening economic relationships during a period of global trade uncertainty, without mentioning U.S. tariffs.
• Key agreements include coordinated efforts to combat financial crime and continued support for Ukraine in its defense against Russia.
• The group acknowledged the need to monitor and assess potential financial stability risks posed by advancements in artificial intelligence.
• This meeting, co-chaired by Canada's Finance Minister François-Philippe Champagne and the Bank of Canada Governor, sets the stage for the upcoming G7 leaders' summit in Kananaskis.