UPDATE 1-G8: focus on economic recovery first, cost later

* G8 wording on growth unchanged from June finmins statement

* Stimulus must continue till recovery guaranteed

* Leaders avoid reserve currency issue for now

(Updates after G8 statement published)

By Darren Ennis and Gavin Jones

L'AQUILA, Italy, July 8 (Reuters) - Global economic recovery is not yet guaranteed and governments will worry about the bill for heavy stimulus spending once it has succeeded, world leaders meeting in Italy said on Wednesday.

"While there are signs of stabilisation, including recovery in stock markets, a decline in interest rate spreads, improved business and consumer confidence, the situation remains uncertain and significant risks remain to economic and financial stability," they said in a statement.

That was the same wording as a statement from the group's finance ministers a month ago and offered no new optimism for markets on a day when the International Monetary Fund said the world economy was starting to emerge from recession.

The leaders, meeting in the earthquake-hit mountain town of L'Aquila for talks that started with the economy, said they were committed to withdrawing stimulus spending, but only when a recovery looked secure.