G-7 Plan of Action

11 October 2008

The action plan provides a framework for individual and collective policy steps to provide liquidity to markets, strengthen financial institutions, protect savers, and enforce investor protections.

The G-7 Finance Ministers and Central Bank Governors agreed on an action plan to address the turmoil in global financial markets. The action plan provides a framework for individual and collective policy steps to provide liquidity to markets, strengthen financial institutions, protect savers, and enforce investor protections.

 

Action Plan

The G-7 agreed that the current situation calls for urgent and exceptional action. We commit to continue working together to stabilize financial markets and restore the flow of credit, to support global economic growth. We agree to:

 

 

The actions should be taken in ways that protect taxpayers and avoid potentially damaging effects on other countries. We will use macro-economic policy tools as necessary and appropriate. We strongly support the IMF's critical role in assisting countries affected by this turmoil. We will accelerate full implementation of the Financial Stability Forum recommendations and we are committed to the pressing need for reform of the financial system. We will strengthen further our co-operation and work with others to accomplish this plan.

 

Action Plan