Inflation in G7’s crosshairs

A former Japanese finance official said the December G7 meeting will likely focus on inflation. Zembei Mizoguchi said that because of the U.S. dollar’s recent rise, currency concerns are not expected to be a point of emphasis at the meetings in London on Dec. 2-3. “There is a common view that inflation is contained at this point, and that the situation must be maintained,” Mizoguchi said.

The International Monetary Fund will begin a program that provides financial help to low-income countries that suffer from natural disasters or have balance- of-payments problems because of surging oil prices. The new program, which will be called the Exogenous Shocks Facility, will likely get a donation of $750 million from each member country.