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• See also G7 Statement on Exchange Rates (October 10)
• See also Statement by U.S. treasury secretary Henry Paulson (October 10)
• See also Statement by U.S. president George Bush after meeting with G7 finance ministers (October 11)
• See also Statement by U.S. under treasury secretary David McCormick (October 8)
The G7 agrees today 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 macroeconomic 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 cooperation and work with others to accomplish this plan.
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