DRRRF

THE GLOBAL BANK
DISASTER RISK REDUCTION
AND RECONSTRUCTION FUND

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Why were these G7 Summits felt to be necessary?

Because of the economic problems the countries were faced with in the 1970s: the first oil crisis and the breakdown of the system of fixed currency exchange rates. The first meeting served to exchange ideas on possible solutions. The countries taking part reached agreement on international economic policy and first measures for reversing the ongoing global economic downturn.

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