G-7 finance chiefs to meet in Istanbul to shape G-20 pledges

The half-day meeting of the G-7 finance ministers and central bank governors will come around a week after the G-7 leaders, together with their counterparts from emerging economies such as India and China, met for the Group of 20 summit in Pittsburgh, US.

The financial leaders from Britain, Canada, France, Germany, Italy, Japan and the United States themselves met in London in early September for a G-20 financial meeting in the run-up to the G-20 summit.

So instead of trying to come up with bold new decisions, the G-7 discussions are likely to focus on reaffirming pledges made at the G-20 summit and how to flesh out them, according to Japanese officials. At the two-day summit of developed and emerging countries through last Friday, the G-20 leaders agreed to keep global imbalances in check and set up a framework by November to have member countries periodically monitor each other's economic programs.