A meeting of the G7 finance ministers has issued a confident statement of prospects for the world economy and forecast an upturn in growth in 2002.

The ministers meeting in Rome to prepare for the G8 summit in Genoa on July 20 issued a joint statement declaring that "sound economic fundamentals and strong international co-operation should provide a solid foundation for renewed expansion".

UK chancellor, Gordon Brown, was the only minister to strike a more cautious tone, warning that the global downturn had not yet worked itself out.