World financial leaders concluded their Group of Seven meeting in Canada Saturday, committing to "strong reforms" to prevent future financial crises and pledging assistance to Haiti, in the wake of a devastating earthquake.

 

[Jim Flaherty, Canadian Minister of Finance]:

"We are committed in the G7 to the forgiveness of debt, in fact all bilateral debt has been forgiven by G7 countries vis-à-vis Haiti.  The debt to multilateral institutions should be forgiven, and we will work with these institutions and other partners to make this happen as soon as possible." 

 

The finance ministers from the world's wealthiest powers met in the town of Iqaluit, in Canada's remote Arctic north, for two days, renewing a pledge to keep their stimulus plans in place while a global economic recovery tries to take hold.