"Finance chiefs from the G7 industrial powers will assemble Saturday in Turkey for a regular but unusually short gathering to reaffirm their commitment to resolving global economic imbalances and discuss a range of other macroeconomic issues such as currency.... The financial leaders are also likely to pledge anew to do their utmost to nurture the budding signs of economic recovery to sustainable growth, while confirming they will not rush to unwind emergency steps soon..." [Kyodo/Factiva]

AFP adds that "...the Istanbul meeting will be the opportunity to discuss the next steps and the implementation of the G20 roadmap.... The G7 also are heavyweights in the International Monetary Fund, and as such are expected to discuss the decision by G20 leaders to reform the 186-nation institution...." [Agence France Presse/Factiva]

AP reports that "...markets will be keeping a close eye on this Saturday's meeting of finance ministers from the G7 to see if they go beyond the normal platitudes about currencies and try to support the dollar, which has been sold off heavily in recent weeks.... Regardless of whether the G7 finance ministers actually take verbal steps to support the dollar, the currency's long-term status as the world's reserve currency is clearly under the spotlight. Earlier this week, World Bank President Robert Zoellick cautioned US authorities against assuming the dollar would maintain its role as the world's reserve currency...." [Associated Press/Factiva]