Global finance ministers are gathering in Rome to discuss ways of tackling the global economic crisis.
The meeting of the G7 nations precedes a G20 summit in London on 2 April.
It is the first G7 meeting since October 2008 and will be the first attended by the new US Treasury Secretary, Timothy Geithner.
The BBC reports other countries will be waiting to see if he gives any details of the new measures planned by the Obama administration to deal with the crisis.
British Chancellor Alistair Darling has said that getting lending going again will be the main subject on the agenda.
The G7 comprises the United States, Britain, Japan, Germany, France, Italy and Canada.