Canada's Minister of Finance Issues Statement on Global Market Developments

The Honourable Jim Flaherty, Canada's Minister of Finance, has issued the following statement: "Canada continues to weather the global financial market turbulence better than many other countries. I would emphasize that Canada’s banking and insurance industries are well capitalized and our financial system is sound. The International Monetary Fund has determined that Canada’s financial system is resilient and that the stability of our system is well supported by sound macroeconomic policies and strong prudential regulation and supervision." (Read the News Release.)