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Ensuring adequate global liquidity: a challenge for international financial institutions, PACE says

23/06/2009 Session

 

 
In a resolution adopted today, the Assembly considers that the main challenge facing international financial institutions such as the IMF and development banks such as the World Bank, as well as the governments that fund them, is to ensure adequate global liquidity and stability in order to restore growth and hence employment. According to Kimmo Sasi (Finland, EPP/CD), author of the report on this subject, restoring health to the international banking system must be a top priority.

The Assembly also believes that financial institutions must play a major part in restoring confidence in the international financial system by contributing to the enhancement of its regulatory framework. Parliamentarians also reaffirmed the principles in PACE Resolution 1651 (2009), which should be taken into account in seeking to come out of and soften the recession, and reform the financial system, including the need to safeguard the social and economic rights of citizens.

Links

Resolution 1673