World

Main points of G7 finance ministers' declaration

  • AFP, Rome
  • |
  • Updated: Feb 14, 2009 10:59 IST
Following are the main points in the final declaration on Saturday of the Group of Seven finance ministers and central bank chiefs after two days of talks in Rome on the global financial crisis:

-- The crisis has highlighted fundamental weaknesses in the international financial system and that urgent reforms are needed.

-- The stabilisation of the global economy and financial markets remains our highest priority.

-- The G7 remains committed to avoiding protectionist measures, which would only exacerbate the downturn.

-- The G7 commits to take any further action that may prove necessary to reestablish full confidence in the global financial system.

-- A reformed IMF (International Monetary Fund), endowed with additional resources, is crucial to respond effectively and flexibly to the current crisis.

-- We welcome China's fiscal measures and continued commitment to move to a more flexible exchange rate... which should help promote more balanced growth in China and in the world economy.

 

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