The meeting also comes as the planned Libra global currency faces swelling criticism from regulators, and reported warnings from the G7 group of nations that it poses a threat to the global financial system.
But instead the list has shrunk, after more of its initial backers abandoned the alliance amid swelling criticism from regulators around the world on the planned Libra global currency. French economy and finance minister Bruno Le Maire has warned that under current circumstances, Libra posed a threat to the “monetary sovereignty” of governments and could not be authorised in Europe.
But in a fresh blow, a draft G7 report has outlined nine major risks posed by such digital currencies, according to the BBC. But the G7 draft report reportedly cautioned that such currencies could pose problems for policymakers setting interest rates, and could threaten financial stability if users suddenly suffer “loss of confidence” in the digital currency.
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