|
|
| Britains Chancellor of the Exchequer, Alistair Darling (left) talks with US Treasury Secretary Timothy Geithner during a ceremony at the G7 Finance Ministers meeting in Iqaluit, Canada, on February 5. G7 finance ministers and central bankers launched talks in northern Canada aimed at keeping a tentative global economic recovery on course as fresh turmoil roiled financial markets.(Xinhua/AFP Photo) |
IQALUIT, Canada, Feb. 5 (Xinhua) -- Finance ministers from the Group of Seven (G7) most industrialized countries met here Friday to discuss cooperation on global economic and financial stability and balanced development.
Canadian Finance Minister Jim Flaherty said before the meeting that the G7 cannot play the leading role it once did, but it will continue to evolve in an ever-changing world while contributing, through frank and open discussion, to a more stable and prosperous world for all.
"Our major concern is economic recovery and financial stability," Flaherty told a briefing.
Earlier on Friday, the minister stressed in an official statement that this G7 meeting will not revolve around negotiated communiques and scripted texts, adding that it will be a time for frank discussion and a collective determination to help put the global economy firmly on the road to recovery.
"The first responders to the recent crisis were G7 members, and it was the result of the same frank and open dialogue we intend to have here in Iqaluit," he said.
The Iqaluit agenda begins with a working dinner on the current state of the global economy, international financial markets and continued risks to the burgeoning worldwide recovery. It will be followed by a fireside chat involving finance ministers and central bank governors on the future role of the G7.
Saturday's schedule will begin with a candid discussion on financial sector reforms and the need for coordinated efforts by G7 nations to address the underlying causes of the financial crisis.
It will be followed by a session on the Framework for Strong, Sustainable and Balanced Growth, which was endorsed by a Group of 20 summit in Pittsburgh, the United States last year to address global imbalances.
The meeting will conclude with a working lunch on development and other issues, including assistance to Haiti.
