Finance chiefs of the Group of Seven nations declared it “urgent” to limit the cost of the Middle East war to the global economy and “reaffirmed the pressing need to move toward a lasting peace.”
The statement was issued at the IMF/World Bank Spring Meetings in Washington on Thursday, where finance ministers from the US, UK, France, Germany, Italy, Japan, and Canada convened as the conflict continues to roil energy markets and disrupt trade.
The G7’s collective call for de-escalation carries direct implications for Sri Lanka and other developing economies heavily dependent on international trade and concessional finance. Several G7 members are major bilateral donors and key stakeholders in Sri Lanka’s ongoing IMF programme and debt restructuring process.
The statement comes alongside intensifying diplomatic efforts, including Pakistan-mediated talks between the US and Iran and a fresh Israel-Lebanon ceasefire. However, the war’s economic toll continues to mount, with oil prices having surged past $100 per barrel and global supply chains under severe strain.
The G7 finance ministers’ meeting took place on the same day that President Trump claimed Iran had agreed to surrender its enriched uranium stockpile — a potential breakthrough that, if confirmed, could significantly alter the conflict’s trajectory and its economic impact.
