Finance Ministers and Central Bank Governors from the Group of 7 (G7) industrialised nations met in London in early February. Among them were Japan's Minister of Finance Sadakazu Tanigaki and Toshihiko Fukui, Governor of the Bank of Japan.

During the course of the meeting, participants recognised that each of their countries must play its part to support long-term sustainable global growth. In this context, Japan's commitment to further structural reform was acknowledged. In response to the tsunami disaster, it was agreed exceptionally to defer debt payments without interest to the end of 2005 for affected countries on request, and to promote this in the Paris Club. G7 Finance Ministers discussed the challenges of helping developing countries, and their Conclusions on Development were issued separately.