Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

G7 endorses actions to combat global financial stress

Staff Reporter 1 minute read

The Group of Seven (G7) finance ministers – which includes representatives from France, Germany, Canada, Italy, Japan, UK and USA – conceded on Friday that turmoil in global financial markets has become more “protracted” than earlier anticipated.

While the group said they remained positive about the long-term resilience of global economies, it agreed that the near-term prospects for the global economy had indeed weakened.

To weather the near-term consequences of the turmoil, the group said it welcomed and strongly endorsed recommendations put forward by the Financial Stability Forum (FSF).

The FSF’s recommendations included strengthening authorities’ responsiveness to risks, robust arrangements for dealing with financial system stress as well as strengthened prudential oversight of capital, liquidity and risk management.

With some initiatives in these areas already underway, the G7 said it remained committed to ensuring the implementation of the recommendations.

Advertisement
Advertisement

Published: 14-04-08

G7 endorses actions to combat global financial stress
default
TheAdviser logo
default
more from the adviser
trophyaward 850 Revealed: The winners of the Better Business Awards NSW/ACT

The leading lights of the broking industry from across NSW and AC...

prospa new 2 Prospa reshuffles leadership team

The SME lender has announced changes to its leadership team follo...

Wisr ta Wisr originations jump 90%, profit falls

The neo-lender has reported a $12.9 million loss in the six month...

FROM THE WEB