Finance Minister Roland Lescure said on Tuesday
Lescure made the remarks as he arrived for the second and final day of a G7 finance ministers’ meeting in Paris, where officials from the world’s leading industrialized economies have been discussing global growth risks, debt pressures and development financing.

The French minister said participants broadly agreed that multilateral financial institutions needed to play a stronger role in assisting countries struggling with economic fragility and external shocks.

A joint communiqué outlining the outcomes of the meeting is expected later on Tuesday.

The discussions come as developing economies continue facing pressure from high borrowing costs, slowing global trade, climate-related disruptions and the lingering effects of recent geopolitical conflicts on food and energy markets.

International financial institutions, including the IMF and World Bank, have faced increasing calls from advanced economies and developing nations to accelerate lending reforms, expand crisis financing and improve debt restructuring mechanisms for low-income countries.

G7 officials have also been under pressure to demonstrate coordinated support for vulnerable economies amid concerns that widening debt burdens and fiscal instability could undermine global economic recovery.

In a joint statement issued after meetings in Paris, the G7 officials said it was “imperative” to restore normal transit through the strategic waterway, which handles a substantial share of global oil and liquefied natural gas shipments.

The statement was released following discussions among finance chiefs from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, as tensions linked to the Middle East conflict continue to disrupt international trade and energy flows.

The ministers also emphasized the need to address widening global current account imbalances and reaffirmed their commitment to multilateral coordination in responding to threats facing the world economy.

The G7 warned against arbitrary export restrictions and stressed the importance of maintaining stable and predictable energy markets at a time of heightened geopolitical uncertainty and supply chain volatility.

The Strait of Hormuz, located between Iran and Oman, remains one of the world’s most strategically significant maritime chokepoints. Any disruption to traffic through the corridor can have immediate consequences for oil prices, shipping costs and inflationary pressures across major economies.

The latest G7 statement reflects growing international concern over the economic fallout from escalating regional tensions and the broader impact on global trade, energy security and financial markets.

Klingbeil is due to travel to Paris for a meeting of G7 finance ministers and central bank governors scheduled for Monday and Tuesday, where the Iran conflict and its economic implications are expected to feature prominently on the agenda.

“The G7 is the right place to discuss how we can help bring about a lasting end to the war in Iran,” Klingbeil said in remarks released before the meeting. He added that Germany and its European partners remained committed to cooperation, open trade and rules-based international partnerships.

The minister said recent geopolitical and economic shocks had reinforced the need for Germany and Europe to strengthen resilience in critical sectors including raw materials, energy supplies and industrial supply chains.

The conflict has heightened concerns over shipping through the Strait of Hormuz, one of the world’s most strategically important oil transit routes. Any prolonged disruption could affect global energy markets and trade flows.

Klingbeil also said finance ministers from Brazil, India, South Korea and Kenya would participate in discussions in Paris as part of a broader effort to deepen international economic partnerships beyond the G7 bloc.

He said Germany would continue supporting Ukraine despite mounting tensions in the Middle East and would not allow the Iran crisis to divert attention from Russia’s war in Ukraine.

Klingbeil is expected to sign a double taxation agreement with Ukrainian Finance Minister Sergii Marchenko during the Paris meetings, a step he said would strengthen economic cooperation and provide greater legal certainty for businesses operating between the two countries.

The agreement emerged during the opening phase of a two-day summit in the Chinese capital that both sides framed as an effort to preserve cooperation between the world’s two largest economies despite disputes over trade, Taiwan and global security.

Xi told Trump that stable ties between China and the United States benefited the international community and warned that confrontation between the two countries would damage both sides.“When we cooperate, both sides benefit; when we confront each other, both sides suffer,” Xi said during opening remarks at the Great Hall of the People.

Trump, whose approval ratings have come under pressure amid the Iran war and rising inflation, described the gathering as potentially “the biggest summit ever” and invited Xi to visit Washington later this year.During a state banquet, Trump praised Xi as “a great leader” and said the two countries would pursue broader cooperation despite ongoing strategic rivalry.

Chinese officials said economic negotiations held in South Korea on Wednesday between US and Chinese trade teams had produced “balanced and positive outcomes,” aimed at preserving a trade truce reached last October that suspended steep tariffs and eased tensions over rare earth exports.

The leaders also discussed expanding cooperation in agriculture, trade and artificial intelligence while exchanging views on conflicts in the Middle East, Ukraine and the Korean Peninsula, according to Chinese state broadcaster CCTV.Taiwan remained a central point of friction.

Xi warned Trump that mishandling the issue could push bilateral relations toward “a dangerous situation,” according to China’s foreign ministry.Taiwan, the democratically governed island claimed by Beijing, continues to receive military support from Washington under longstanding US law despite the absence of formal diplomatic recognition.

Joining Trump in Beijing were senior US business executives including Elon Musk and Jensen Huang, reflecting Washington’s push for greater access to Chinese markets and reduced trade imbalances.China, meanwhile, is seeking relief from US export restrictions on advanced semiconductors and chipmaking equipment.

Analysts said shifting geopolitical conditions have altered the balance of the relationship since Trump’s previous Beijing visit in 2017. While China’s economy has slowed, Beijing faces less immediate domestic political pressure than Washington, where inflation, legal disputes over tariffs and the Iran conflict have complicated Trump’s agenda ahead of midterm elections.

The Iran conflict also featured prominently in discussions, with Trump expected to encourage Beijing to press Tehran toward a diplomatic settlement. However, analysts said China was unlikely to significantly reduce support for Iran, which Beijing views as an important strategic partner and counterweight to US influence.

US Secretary of State Marco Rubio said it was in China’s economic interest to help stabilize the Gulf region, noting that disruptions in shipping and trade would affect Chinese exports and maritime traffic.

A Pakistani source involved in the negotiations said discussions were “on track” for Wednesday, despite earlier indications from Iran that it might not attend. U.S. President Donald Trump could join the talks either in person or virtually if an agreement is reached, the source added.

U.S. Vice President JD Vance is expected to travel to Pakistan for the переговоры, according to media reports, while Iranian officials said Tehran was “positively reviewing” whether to send a delegation, without confirming participation.

The diplomatic push comes as a two-week ceasefire in the conflict, which began on February 28, nears its end. A Pakistani source said the truce is expected to expire late Wednesday U.S. time.Financial markets reacted to signs of renewed diplomacy, with oil prices falling more than $1 and equities rising in early Asian trading amid expectations that talks could resume.

Brent crude traded near $94 a barrel, while U.S. West Texas Intermediate fell below $88.Tensions remain elevated, however, following disputes over the U.S. blockade of Iranian ports and the recent interception of an Iranian vessel.

Tehran condemned the seizure and warned Washington would bear responsibility for any escalation.Iranian officials also reiterated that they would not negotiate under pressure. Senior figures, including Mohammad Bagher Qalibaf, accused Washington of attempting to force concessions through economic and military pressure.

Washington has said it seeks an agreement that would prevent Iran from developing nuclear weapons while stabilizing energy markets. Tehran, for its part, is seeking relief from sanctions and an end to hostilities without compromising its nuclear program.

The strategic importance of the Strait of Hormuz remains central to the negotiations, as the waterway handles a significant share of global oil and gas shipments and has been affected by restrictions imposed during the conflict.

Pakistan, acting as a mediator, has deployed nearly 20,000 security personnel in Islamabad ahead of the potential talks, underscoring the high stakes and security concerns surrounding the negotiations.

In a post on X, Qalibaf accused Donald Trump of attempting to turn diplomacy into a “table of surrender,” adding that Tehran was instead preparing “to reveal new cards on the battlefield.”His remarks come as a two-week ceasefire in a conflict that has killed thousands and disrupted global markets, particularly energy supplies, is set to lapse later this week.

The truce has come under strain following a U.S. move to seize an Iranian cargo vessel accused of violating a maritime blockade, prompting Tehran to warn of retaliation.

Iran has consistently rejected negotiations conducted under coercion, while Washington has maintained pressure through military and economic measures as part of its broader strategy toward Tehran.

The visit marks the first state trip by a South Korean president to India in eight years and comes as both countries seek to strengthen supply chain resilience amid global economic uncertainty linked to the Iran conflict.Lee said the current level of economic cooperation between the two countries remains limited and called for a substantial expansion of ties.

Officials from Seoul said the two sides plan to upgrade their Comprehensive Economic Partnership Agreement to boost trade from $25.7 billion recorded last year.Discussions are expected to cover sectors including shipbuilding, finance, artificial intelligence and defence, with Lee also scheduled to attend business events alongside corporate leaders during his visit.

South Korea has increasingly looked to India as a key partner in diversifying supply chains, particularly as disruptions in the Middle East affect energy flows. Last month, Seoul sought increased naphtha supplies from India to offset potential shortages linked to regional tensions.

India accounted for about 8% of South Korea’s naphtha imports last year, and officials say expanding energy trade could also help address imbalances in bilateral commerce. South Korea recorded a trade surplus of $12.8 billion with India, exporting $19.2 billion worth of goods while importing $6.4 billion, according to Korea International Trade Association data.

Analysts say closer cooperation in shipbuilding could emerge as a focal point, aligning India’s employment priorities with South Korea’s industrial strengths. Consumer goods and food sectors tied to the global popularity of Korean culture are also seen as potential growth areas.

Lee is expected to travel to Vietnam after concluding his India visit, as part of a broader regional outreach strategy.

The United Nations human rights office has launched the second season of its podcast series “Economies that Work for All,” advancing its push to integrate human rights principles into global economic policymaking amid growing concerns over inequality and sustainability.

The series, produced by the Office of the UN High Commissioner for Human Rights in collaboration with the UN System Staff College’s Knowledge Centre for Sustainable Development, builds on earlier discussions around the concept of a “human rights economy.” The initiative seeks to address a central question posed by UN Human Rights Chief Volker Türk: who benefits from existing economic systems.

The framing reflects a broader institutional concern that current economic structures are failing to deliver equitable outcomes. According to Türk, a human rights-based approach to economic governance places individuals and environmental sustainability at the core of decision-making, aligning policy outcomes with broader social objectives.

“Economies that Work for All” explores the intersection of economic systems and human rights, positioning the latter as a framework for addressing systemic challenges such as inequality, exclusion, and environmental degradation. The concept is also tied to the United Nations’ 2030 Agenda for Sustainable Development, which emphasizes inclusive growth and social equity.

The first season of the podcast introduced foundational ideas behind the human rights economy framework through discussions with policymakers and economists. Contributors included Mariana Mazzucato, Jayati Ghosh, Kate Raworth, Grieve Chelwa, and Epsy Campbell, who examined how rights-based approaches could reshape economic thinking and policy design.

The newly launched second season shifts focus toward implementation, examining how governments are applying these principles in practice. Through a series of weekly episodes, the podcast highlights policy initiatives across different regions, offering case studies on how human rights considerations can inform economic decision-making.

The opening episode features Spain’s Minister of Social Rights, Consumer Affairs, and the 2030 Agenda, Pablo Bustinduy, discussing national efforts to align economic policy with inclusivity and social welfare objectives. The discussion reflects broader European debates on balancing growth with social protection and equitable distribution.

Subsequent episodes examine fiscal and structural reforms in emerging and developing economies. One episode focuses on Brazil’s approach to taxation, with Poliana Garcia Ferreira from the Ministry of Finance outlining measures aimed at reducing inequality through redistributive policies. The discussion highlights the role of tax systems in addressing income disparities and supporting public services.

Another episode explores South Africa’s efforts to implement a rights-based approach to climate transition. Dorah Modise, Executive Director of the Presidential Climate Commission, discusses strategies for aligning environmental policy with social justice, particularly in the context of shifting away from carbon-intensive industries.

The series also includes a case study on Sri Lanka, where economist Ahilan Kadirgamar reflects on the country’s economic challenges and the potential for rethinking development through a human rights lens. The episode examines how past economic crises can inform more inclusive policy frameworks going forward.

Housing policy is addressed in a separate episode featuring Leilani Farha, former UN Special Rapporteur on the Right to Adequate Housing and current Global Director of The Shift. The discussion emphasizes the need to treat housing as a fundamental human right rather than a financial asset, particularly in urban environments facing affordability pressures.

The podcast initiative comes at a time when multilateral institutions are increasingly examining the social impact of economic policies. Rising inequality, climate-related risks, and uneven recovery patterns following global economic disruptions have intensified calls for policy frameworks that prioritize inclusivity and resilience.

Türk said that grounding economic decisions in human rights can enhance public trust and improve long-term sustainability. The approach, he argued, provides a structured way to align economic outcomes with broader societal goals, including poverty reduction, environmental protection, and access to essential services.

The UN’s emphasis on a human rights economy reflects an evolving policy discourse that seeks to move beyond traditional growth metrics. By integrating social and environmental considerations into economic planning, the framework aims to support more balanced and durable development outcomes.

The first episode of the second season became available on March 30, with subsequent episodes scheduled for weekly release. The series is accessible through major podcast platforms and forms part of a broader UN effort to engage policymakers, academics, and the public on issues at the intersection of economics and human rights.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.9%, marking a third straight day of gains, while Japan’s Nikkei 225 surged 2.2% to a fresh peak. U.S. equity futures also pointed higher, with S&P 500 e-mini contracts up 0.2%.

The gains followed a strong session on Wall Street, where the S&P 500 rose 0.8% and the Nasdaq Composite advanced 1.6%, supported by robust earnings from Bank of America and Morgan Stanley. With roughly 6% of companies having reported results so far, about 84% have exceeded analysts’ expectations.

Analysts at Goldman Sachs said they remained constructive on emerging market equities, citing expectations of solid profit growth driven in part by demand linked to artificial intelligence, which they said could remain relatively insulated from energy market shocks.

Attention in Asia is also turning to earnings from Taiwan Semiconductor Manufacturing Co, a key supplier in the global semiconductor industry, with forecasts pointing to a sharp rise in quarterly profit on strong demand for advanced chips.

In currency markets, the U.S. dollar index was little changed at 98.02, as easing geopolitical tensions tempered safe-haven demand and investors adjusted expectations for monetary policy easing by the Federal Reserve. The euro hovered near its highest level since the Iran conflict began, extending a multi-day rally.

Oil prices edged higher, with Brent crude rising 0.3% to $95.23 per barrel, after indications that Iran could allow safer maritime passage through the Strait of Hormuz as part of ongoing negotiations with the United States. Supply concerns were also heightened by a refinery fire in Australia.

Chinese equities gained after data showed the economy expanded 5.0% year-on-year in the first quarter, exceeding expectations and suggesting resilience despite geopolitical headwinds. Analysts cautioned, however, that prolonged conflict could weigh on global demand and exports.

Australian markets were more subdued, with shares slightly lower and the currency steady after employment data showed stable labor market conditions, reinforcing expectations that inflation risks remain a key concern for policymakers at the Reserve Bank of Australia.

Gold rose 0.6% as investors balanced improving risk sentiment with lingering uncertainty, while major cryptocurrencies edged lower in cautious trading.

IEA Executive Director Fatih Birol said that while March deliveries largely reflected cargoes loaded before the crisis escalated, the situation has shifted significantly. “During the month of April, nothing has been loaded,” he told reporters following meetings at the International Monetary Fund, adding that prolonged disruption would intensify market pressures.

Birol said the agency is tracking damage to energy infrastructure across the region, noting that more than a third of over 80 affected facilities have sustained severe damage. He described the situation as a major energy security challenge with global implications, warning that no country would be insulated from the fallout.

IMF Managing Director Kristalina Georgieva said there is an urgent need to assess the scale of economic impact stemming from infrastructure losses tied to the conflict.World Bank President Ajay Banga said the institution is preparing for multiple scenarios depending on the duration and intensity of hostilities, including expanded financial support.

The IMF has indicated it can make up to $50 billion available, while the World Bank has outlined potential financing of up to $25 billion, with the possibility of increasing total support to $60 billion over six months if conditions worsen.

The conflict, triggered by U.S.-Israeli strikes on Iran beginning February 28, has disrupted flows through the Strait of Hormuz, a critical artery for global oil shipments. Iran’s actions to impede maritime traffic, followed by a U.S. naval blockade, have heightened concerns over supply constraints and price volatility.

Although a two-week ceasefire was agreed last week to enable negotiations, talks in Islamabad failed to produce a breakthrough, raising uncertainty over whether the truce will hold.

International mediators, including Pakistan and Qatar, have urged both sides to maintain the ceasefire, while UN Secretary-General Antonio Guterres called for the restoration of freedom of navigation in the region.