G8 draft communique says inflation risks receding

May 15 (Reuters) Inflationary pressures are receding and that reduces risks to the otherwise healthy outlook for global economic growth, says a draft communique G8 finance ministers are set to sign off on later this week at talks in Germany.

The communique, part of preparations for the June summit of leaders from the Group of Eight world powers, commits those countries to pursue economic strategies judged necessary to ensure that imbalances in the world economy resolve themselves in an orderly way.

''Global growth remains robust and it is more balanced across regions and within our countries,'' says the draft communique, a copy of which was obtained by Reuters.

''Amid moderating inflationary pressures, risks for the outlook have abated, but high and volatile energy prices remain a concern and we will remain vigilant,'' it says.

''We will continue to pursue sound policies to foster sustained and balanced growth and support the orderly adjustment of global imbalances.'' Global imbalances is generally taken to mean excessive trade and current account deficits in countries such as the United States and corresponding surpluses in other countries.

The draft also calls again for efforts to break a deadlock in the Doha Round of free trade negotiations.

''We firmly believe all participants have the responsibility to ensure a successful outcome of the Doha Development Round as it will enhance global growth and contribute to poverty reduction,'' it says.

''We should strive to reach an agreement on the core modalities as soon as possible, which will require further flexibility and concessions on the part of all parties. It is necessary to achieve an ambitious and balanced deal that delivers economic benefits for all members.'' REUTERS PBB VV2012