G7 finance ministers to discuss recent forex moves

OTTAWA (Reuters) - Finance ministers and central bankers from the Group of Seven industrialized nations will discuss recent foreign exchange movements when they meet in Germany this week, a senior Canadian official said on Monday.

The official also told reporters that foreign exchange movements over the last few months have reflected what was happening in the world economy, in particular economic recoveries in the United States and Europe.

The official, who spoke on condition that he not be quoted directly, said there would be no final communique at the end of the meeting, which runs from May 27-29 in Dresden.

Instead, Germany will release a chairman's statement.

The meeting will open with a session on the outlook and risks facing the global economy and what needs to be done to strengthen economic recovery.

Other topics for discussion include international tax issues, financial sector regulations and reform of quotas at the International Monetary Fund, the official said.