G8 code calls for open statistics
Thursday 19 February 1998
Gordon Brown, the Chancellor of the Exchequer, said yesterday that one of the lessons of the recent turmoil was the need for greater transparency. The International Monetary Fund (IMF) has been drawing up the code proposed by the UK at its annual meeting in September.
Mr Brown added that the G8 meeting (the G7 big industrial countries plus Russia) would also be considering new assessments about the impact of events in Asia on the world economy. The latest estimates by the IMF suggested it would trim 0.8 per cent off world growth this year and 0.4 per cent from growth in the advanced economies.
Asia is expected to dominate the agenda on Saturday, with discussions of the IMF's plans to press ahead with further liberalisation of capital flows despite the recent crisis. The need for reform and improved regulation of banking in emerging markets will also be discussed.
Other members are also expected to express their concern about the weakness of the yen and the scale of the planned boost to the Japanese economy.
The G8 meeting is to be followed on Sunday by a jobs summit for North American and European finance and economics ministers. Mr Brown said: "The purpose is to find new ways of responding to the need for job creation and job opportunities."
Outlook, page 25
- 1 BBC election debate: The one photo that summed up the whole 90-minute leaders debate
- 2 18th century sex toy found in 'toilet of sword fighting school' in Poland
- 3 'I wish my teacher knew...': Young students share their 'heartbreaking' worries in notes
- 4 Rebecca Francis accuses Ricky Gervais of using 'influence' to target female hunters after receiving barrage of death threats
- 5 Australian student Tommy Connolly, 23, adopts his pregnant, homeless 17-year-old cousin to give her a chance at 'a better life'
General Election 2015: David Cameron catching up in polls – but he badly needs a clear lead
South Africa xenophobic attacks: Shops looted and violence on streets of Johannesburg as foreigners are forced to hide in police stations
Earthworms rain down from skies over Norway, puzzling scientists
18th century sex toy found in 'toilet of sword fighting school' in Poland
'I wish my teacher knew...': Young students share their 'heartbreaking' worries in notes
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
General Election 2015: Polish prince challenges Nigel Farage to a duel over immigration question
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...