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IMF welcomes pledges by Europeans, G7 on markets

8 August 2011 No Comment

IMF CHIEF Christine Lagarde on Sunday welcomed pledges by the European Central Bank, as well as France, Germany and the G-7, to take all necessary measures to stabilize the financial markets.

‘This cooperation will contribute to maintaining confidence and spurring global economic growth,’ Ms Lagarde said in a statement.

The IMF reaction followed statements by financial chiefs and central bankers of the G7 countries to ‘take all necessary measures to support financial stability and growth’ as nervous global markets re-opened.

‘I welcome the statements from the European Central Bank, from the leaders of Germany and France as well as from the G7, and their renewed commitment to take all necessary action in a coordinated way to ensure stability and liquidity in the financial markets,’ Ms Lagarde said.

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