G7 MEETING Ministers say functioning of financial markets is improving |
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Fri, 19 Oct 2007 23:49
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WASHINGTON (Thomson Financial) - G7 finance ministers and central bankers said the functioning of financial markets is now improving following the recent credit crisis, but that they still require close monitoring.'Following recent global market turbulence, the functioning of financial markets is improving. Strong global fundamentals and well capitalised financial institutions provide a sound and resilient basis but uneven conditions are likely to persist for some time and will require close monitoring,' they said in the communique issued at the end of their meeting here.'This global economy is in its fifth year of robust growth. Recent financial market turbulence, high oil prices, and weakness in the US housing sector will likely moderate this growth.'Nevertheless, our overall economic fundamentals continue to be strong and emerging markets are providing critical impetus to the strength of the world economy,' they said.steve.whitehouse@thomson.comsw/roCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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