Which of the following statements is INCORRECT?

The finance ministers from the Group of Seven countries and the policy-making body of the International Monetary Funds warned the rise in oil prices poses a threat to world economies, but they stressed the current economic outlook is good.
    But at Sunday’s meeting, South African finance minister Trevor Manuel called attention to the need for rich countries to boost the flow of resources to the poorest. He said the Millennium Development Goals (MDGs) set five years ago cannot be achieved without new money.
    The Millennium Development Goals call for a 50 percent reduction in global poverty by 2015. Because of stunning progress in reducing poverty in China and India, the World Bank is optimistic that the millennium targets can be met.
    The meeting made some progress in resolving technical differences over writing off the debt of the poorest African countries. But they did not iron out the difference between separate proposals from the United States and Britain on how to pay for it.
    The finance ministers from the world’ s seven richest countries agreed the global financial system is out of balance and policies must be adopted to prevent what they called an abrupt market correction.
    But the US government, whose huge budget deficit is seen as one of the main reasons for the financial imbalance, revealed no new plans to reduce the excessive spending.