G7 upbeat on world economy

Finance chiefs from the world's G7 nations agreed on Saturday 24 April thatthe global economic outlook had brightened significantly but the threat of further oil price rises was one of the few clouds on the horizon.

"Prospects are favourable and although risks remain, such as energy prices, overall the balance of risks to the outlook has improved," G7 officials said in a communique after their Washington gathering alongside spring meetings of the IMF and World Bank.

"The principal risk is the o