President of the Eurogroup, Paschal Donohoe, travels to Japan to participate in the G7 Finance Ministers and Central Bank Governors meeting in Niigata on 11-13 May 2023

President of the Eurogroup and Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe, T.D., is in Japan where he will participate in the G7 meeting of Finance Ministers and Central Bank Governors.

The G7 meeting, which takes place on 11-13 May, will be chaired by the Japanese Presidency of the G7. During the meeting, Minister Donohoe, as President of the Eurogroup, will take part in discussions which will focus on providing continued support to Ukraine’s economic resilience and reconstruction; global economic stability, growth and recovery; accelerating climate action and an orderly and just transition to net zero; and the key challenges for the international financial sector. In dialogue with partner countries, the agenda will focus on tackling immediate challenges facing developing countries and strengthening international cooperation for sustainable and inclusive growth.

The agenda for the second day includes a joint meeting of G7 Finance and Health Ministers, an update on progress on international taxation and work on development finance and economic security.

Speaking ahead of his participation in the meeting, Minister Donohoe said: “The global economy faces a complex confluence of geopolitical and climate challenges.

The G7 meeting is an important opportunity for the European Union to continue working with our international partners to build a more sustainable, secure and prosperous global economy.

The euro area economy has proven resilient in the face of an unprecedented series of shocks, but there is no room for complacency. This is why the euro area has taken a collective commitment to enhancing our competitiveness, including strengthening our Banking Union and our plans to deepen our Capital Markets Union.

Following my recent meeting with the Ukrainian Finance Minister, I will reiterate my unwavering support for Ukraine and its reconstruction.”