Finance bigwigs plan frosty February confab in Iqaluit

By NUNATSIAQ NEWS

Finance ministers and central bankers from seven of the world’s leading economies will gather in Iqaluit Feb. 5-6.

The G7 meeting is meant to hammer out ideas on reforming the global financial system after a financial crisis that hit in Sept. 2008 caused the world economy to go into a recession.

“In an ever-changing global economy, the G7 will continue to evolve, with a focus on…actions to strengthen the global economy,” said Jim Flaherty, the federal finance minister, in a news release.

The ministers and central bank governors will discuss reforms to the financial industry, ways to strengthen banks against future economic crises, and “ensuring a sustainable global economic recovery.”

The G7 is made up of France, Germany, Italy, Japan, United Kingdom, Canada and the United States.

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