World’s richest countries pledge to fix economy

By doris | Published: February 16, 2009

Full Story At CNN.com

The Group of Seven finance ministers also urged countries not to close their markets to goods and services from abroad.

“An open system of global trade and investment is indispensable for global prosperity,” they said in a statement at the end of their meeting Saturday.

“Protectionist measures … would only exacerbate the downturn” in the worldwide economy.

The ministers said the global banking crisis had revealed “fundamental weaknesses in the international financial system” and called for urgent reform.

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